BULK ACQUISITION PROCESS
The Waugh and Associates’ (“WAA”) process for purchasing is systematic and can be outlined as such: 

1. Purchaser or purchasers’ Affiliate to have a brief discussion with a WAA Senior Advisor regarding portfolio opportunities, buying preferences and performance capabilities.

2. The Investor Registration and Questionnaire (the “IRQ”) to be completed.

3. Any disclosure of account-level information requires that a Confidentiality Agreement be executed identifying the Purchaser and, if applicable, their Affiliate.

4. Upon receipt of the both the IRQ andConfidentiality Agreement, WAA will provide the Offering Memorandum including a summary itemizing the list of assets, the address and balance principal (if applicable).

5. Purchaser to then submit an LOI and soft Proof of Funds to WAA for the desired portfolio.

6. Upon receipt of an LOI and SPOF, Purchaser will receive a call from the Seller within 1 business day. You negotiate due diligence, pricing, terms, etc.   (The Person who will be contacted MUST be the same person who is on the POF!)

LOI Guidelines:

• Prospective Purchasers are asked to submit highest and best offer.
• Offers are net to Seller.
• Prospective purchasers conduct title checks and purchase their own title insurance.
• Title issues or property related expenses will be resolved prior to execution of the Purchase and Sale Contract (the “Agreement”).
• Purchaser is granted a 120 day "post-close guarantee". If any Deed or Note is not delivered or deliverable, Seller will buy that product back for the same price Purchaser paid.
• Purchaser will prepare deeds for Seller to execute. Seller will provide all necessary information.
• Seller reserves the right to withdraw any property from the Portfolio prior to COE.

7. Upon mutual acceptance of LOI, the Seller will send out Proof of Ownership.

8. Upon Purchaser’s receipt of Proof of Funds, Purchaser will fill out completely the Investor Background Worksheet (the “IBW”) and submit for review and approval by Seller. The IBW must be completed in its entirety.  An incomplete IBW will not be accepted. The POF’s must be under the same name as the Purchaser or Entity represented on the LOI.

9. Upon approval of the IBW and accompanying information, the Purchaser will be provided with all Due Diligence Materials for the desired Portfolio. Also, the Seller will make its required form of Purchase and Sale Agreement (The “Agreement”) for review.

10. There is no “Free Look” period. Portfolios are available on a first come first serve basis. Purchaser is required to conduct their own respective due diligence prior to submitting the Agreement.