PREMIERE 16 RESOURCES

IMPORTANT NOTE SECTION - PLEASE BE SURE TO READ
MINIMUM SURPLUS AMOUNT CHANGED TO $20,000 (TX STILL $30,000)

IMPORTANT INFORMATION ON TEXAS FILES, PLEASE READ
AS OF 1/7/2022, THE MINIMUM ALLOWD SURPLUS AMOUNTS TO EX OWNER(S) WILL BE $30,000 FOR ALL TEXAS FILES. WE WILL CONTINUE TO WORK ALL OLDER FILES THAT ARE LESS THEN $30,000. ALL OTHER APPROVED STATES WILL REMAIN AT $20,000 MINIMUN TO EX-OWNER(S). THANK YOU.

OHIO FILES - IMPORTANT FILE INFORMATION
OHIO SURPLUS FILES INFORMATION.pdf

NEW RESEARCHERS PLEASE READ - 3 FILE ACCEPTED RULE
PLEASE NOTE YOU ARE ONLY ALLOWED TO SUBMIT 3 INITIAL FILES AND HAVE THEM ACCEPTED BY US. ONCE YOU HAVE 3 ACCEPTED FILES, YOU CAN SUBMIT AS MANY AS YOU LIKE. THANK YOU FOR UNDERSTANDING.

NEW RESEARCHERS - 40 FILES
PLEASE NOTE, YOU ARE ONLY ALLOWED UP TO 40 FILES BEING SUBMITTED AND WORKED VIA THE ONLINE SUBMISSION FORM, UNLESS YOU HAVE SUCCESSFULLY SUBMITTED A CONTACTED FILE TO US. WE ARE LIMITING TO MAKE SURE YOU ARE WORKING THE FILES YOU HAVE. IT IS UNFAIR TO EVERYONE IF A RESEARCHER SUBMITS 200+ FILES AND DOES NOT WORK THE PROGRAM. AFTER YOU HAVE AT LEAST 1 CONTACTED AND SENT BACK TO US AND WE CONFIRM YOU SPOKE WITH THEM, YOU CAN WORK 40 MORE.

RESTRICTED STATES - UPDATED 9/10/2024
WE ARE NOT ACCEPTING SURPLUS FILES IN ARKANAS, NORTH CAROLINA, COLORADO AND FLORIDA. THANK YOU.

PLEASE READ! THERE ARE MANY ERRORS BEING MADE ON FILES!
THERE ARE MANY ERRORS BEING MADE ON FILE SUBMISSION RECENTLY. I WILL GO OVER SOME OF THE MOST COMMOM MISTAKES BEING MADE BELOW. PLEASE READ THIS BEFORE YOU SUBMIT FILES, IF YOU HAVE ANY QUESTIONS, PLEASE USE SUPPORT.

1. WE NEED THE DEED FOR THE LAST OWNER PRIOR TO THE FORECLOSURE SALE PERIOD. IF YOU CANNOT FIND THE DEED, PLEASE DO NOT SUBMIT THE FILE, WE WILL NOT ACCEPT IT.

2. IF ONE OF THE EX-OWNERS ARE DECEASED, THEY DO NOT AUTOMATICALLY LOSE THEIR INTEREST IN THE PROPERTY, UNLESS THE DEED STATES JOINT TENANTS WITH RIGHTS OF SURVIVORSHIP OR TENANCY BY THE ENTIRETY, THAT WILL AUTOMATICALLY TRANSFER OWNERSHIP TO SURVIVING DEED HOLDER(S). WITHOUT THIS CLAUSE, THE PERSONS HEIRS ARE ENTITLED TO THE DECEASED PERSONS INTEREST INTHE PROPERTY. SO ON THE HE CONCLUSION, WE NEED ALL DEED HOLDERS LISTED, EVEN IF 1 IS DEAD.

3. YOU NEED TO BE CHECKING ALL MORTGAGES AND WRITE DOWN EVERY MORTGAGE THE OWNERS HAD THE PROPERTY. YOU NEED TO TELL US IF THE MORTGAGES HAVE BEEN SATISFIED OR NOT. DO NOT WRITE YOU DO NOT KNOW, WE WILL NOT ACCPET THE FILE. IF MORTGAGES HAVE BEEN PAD, WE NEED COPIES OF THE RELEASES, IF CANNOT FIND THAT, THEN YOU MUST ASSUME THAT THE MORTGAGES ARE STILL OPEN.

4. WORKSHEETS MUST BE FILLED OUT COMPLETLY, DO LEAVE ANY BLANKS OR NOT SUBMIT WITH ALL PAGES OF THE WORKSHEET. MAKE SURE YOU HAVE THE FORECLOSURE SALE DATE CORRECT AND THE FORECLOSING ENTITY CORRECT.

IMPORTANT NOTE ON CHECKING THE CASE HISTORY!
WHEN WORKING A COUNTY, ESPECIALLY MORTGAGE SURPLUS, PLEASE CHECK TO SEE IF THEY HAVE AN ONLINE CASE HISTORY RECORD SEARCH. VERY IMPORTANT BECAUSE IT MAY SHOW CLAIMS FOR THE SURPLUS/EXCESS PROCEEDS. WE ARE GETTING A LOT OF FILES FROM MARICOPA COUNTY AZ WITH FOLKS NOT CHECKING THIS. THIS IS YOUR FIRST WARNING, PLEASE CHECK THE CASE HISTORY FOR THE FILE YOU ARE WORKING. AGAIN, NOT ALL STATES AND COUNTIES OFFER THIS, BUT SOME DO AND A SIMPLE GOOGLE SEARCH WITH 'COUNTY NAME AND CIVIL CASE SEARCH' SHOULD LET YOU KNOW IF THEY DO. THIS IS MAINLY FOR MORTGAGE SURPLUS, MOST COUNTIES WILL NO OFFER THIS FOR TAX FORECLOSURE CASES. IF YOU SEARCH THE CASE AND IT SAYS THERE IS AN ACTIVE CLAIM FOR SURPLUS, WE WILL NOT ACCEPT THE FILE. WE WILL CHECK YOUR FILES FOR THIS.

IF YOU CAN CONFIRM WHAT THE CLAIM IS FOR, YOU CAN SEND IN NOTING THAT YOU SEE THE CLAIM AND VERIFIED IT STILL WILL LEAVE MIN $15,000 FOR THE EX-OWNER. FOR INSTANCE A LIEN HOLDER IS CLAIMING A SMALL PORTION OF THE TOTAL SURPLUS.

IMPORTANT NOTE ON MORTGAGE CANCELLATIONS
WHEN CHECKING MORTGAGE CANCELLATIONS, PLEASE READ THE CANCELLATION. MANY TIMES AFTER A TAX SALE, THE MORTGAGE IS CANCELLED TO CANCEL THE LIEN AGAINST THE PROPERTY SO THE NEW OWNER HAS CLEAR TITLE. THIS USUALLY OCCURS AT THE TIME OF SALE OR SHORTLY AFTER THE SALE. THIS DOES NOT RELEASE THE DEBT AGAINST THE FORMER OWNER. THIS IS EXTREMELY IMPORTANT BECAUSE CALCELING THE DEBT ONLY AGAINST THE PROPERTY MEANS THE MORTGAGE NOTE HOLDER IS STILL IN LINE FOR SURPLUS. WE ARE NOW GOING TO REQUIRE THAT YOU INCLUDE ALL CANCELLATION OF MORTGAGE NOTICES WITH THE FILE WHEN YOU SUBMIT.

FORECLOSING MORTGAGES ARE SATISFIED BY THE SALE AND DO NOT REQUIRE A RECORDED CANCELLATION OF MORTGAGE DOCUMENT.

IMPORTANT NOTE ON DEEDS
YOU MUST INCLUDE A COPY OF THE DEED AT TIME OF FORECLOSURE, NOT THE BUYER OR FORECLOSURE DEED. YOU MUST WRITE ALL OWNERS ON THAT DEED IN THE DEED HOLDER(S) AT TIME OF FORECLOSURE. ALL PERSON(S) LISTED AS OWNERS ARE ENTITLED TO SURPLUS FUNDS AND ALSO MUST BE INCLUDED ON THE CONCLUSION PAGE.

WE WILL NOT WORK ANY FILE WERE YOU DO NOT INCLUDE A COPY OF THE DEED FOR THE LAST OWNER AT TIME OF SALE. TYPES OF OWNERSHIP DEEDS INCLUDE, WARRANTY DEED, QUIT CLAIM DEED, GRANT DEED OR SPEICAL TYPES DEEDS LIKE BARGAIN DEED OR DEEDS THAT TRANSFER THROUGH A PROBATE OR ESTATE.

A deed transfers ownership of real estate. It contains the names of the old (GRANTOR) and new (GRANTEE) owners and a legal description of the property, and is signed by the person transferring the property. THE OWNER AT TIME OF SALE IS THE GRANTEE ON THE LATEST DEED. You can't transfer real estate without A DEED.

A DEED OF TRUST IS NOT A DEED - A DEED OF TRUST iS A security INSTRUMENT for a loan between a borrower and lender. WE HAVE VIDEOS ON DEEDS IN THE VIDEO SECTION BELOW.

UPDATES TO THE PROGRAM WILL BE LISTED BELOW

**UPDATED WORKSHEET EXPLANATION - PLEASE READ!!!**
1. YOU ARE NOW REQUIRED TO GIVE US THE INFORMATION ON THE OWNER'S DEED AT TIME OF FORECLOSURE SALE. THIS SHOULD BE THE OWNER'S DEED YOU INCLUDED IN WITH THE FILE, NOT THE FORECLOSURE DEED. WE DO NOT WANT THE SHERIFFS DEED/FORECLOSURE DEED TRANSFERRING OWNERSHIP TO THE BUYER AT THE FORECLOSURE SALE IN THIS SECTION.

WE WANT THE DEED RECORDATION DATE AND BOOK/PAGE OR REF# OF THE OWNER'S DEED RIGHT UP TO THE DATE OF THE FORECLOSURE SALE, NOT THE BUYER AT FORECLOSURE. THIS SHOULD MATCH UP WITH THE OWNER'S DEED YOU INCLUDED WITH THE FILE.

2. MORTGAGE HISTORY PAGE HAS CHANGED - ALL MORTGAGE INFORMATION MUST BE FILLED OUT COMPLETELY, NO BLANKS OR FILE WILL BE KICKED BACK. ALSO, WE WANT YOU TO MARK A CHECK OR X IN THE STATUS SECTION - SATISFIED/PAID OFF, OPEN/NOT SATISFIED OR FORECLOSING ENTITY. YOU HAVE TO MARK ONE OF THESE, DO NOT LEAVE UNMARKED. IF A MORTGAGE HAS BEEN RELEASED OR SATISFIED, WE NEED A COPY OF THE RELEASE OR MORTGAGE, IF YOU CANNOT LOCATE ONE THEN IT COUNTS. DO NOT MAKE ASSUMPTIONS AS TO WHETHER IT IS RELEASED OR NOT. UNLESS THERE IS A RECORDED RELEASE OF MORTGAGE YOU HAVE TO COUNT IT.

3. SALE DATE - WE WANT THE DATE OF THE SALE, NOT THE DATE THE SHERIFF DEED OR FORECLOSURE DEED WAS RECORDED. THE SALE DATE IS USUALLY NOTED ONTHE SHERIFFS DEED. IF YOU HAVE ANY QUESTIONS ON THESE CHANGES, PLEASE OPEN A SUPPORT TICKET.

4. We pay commissions of 16% gross collected for both Tax and Mortgage surplus funds files. If total collected surplus is $50,000, we will pay researcher commission of $8,000. In the event that we are unable to receive a minumum of 16% of the gross amount held by the court, we will pay our researcher the entire amount received.

RULES - DO THIS RIGHT GUYS!

1. Please fill out the online form linked below to submit your inital file. This is used when submitting new files after you researched and before you have contacted the claimant(s). After you have made contact, you will submit the complete file with required supporting documents using the updated pdf worksheet.

Send the case in, with completed worksheet and all required documentation, to paperwork@surplusfundsriches.com . When you email - do not use zip files, do not send in links for documents, put the case name(defendant) in the header of the email. Please combine the documents into one attachment. IF YOU DON'T PUT THE DEFENDANT NAME/CASE NAME IN THE HEADER OF THE EMAIL, WE WILL SKIP THIS FILE SUBMISSION AND GET TO IT LATER. IF THIS CAUSES YOU TO LOSE THE CASE TO ANOTHER RESEARCHER, THAT IS ON YOU.

2. Minimum case for us to pursue is $20,000 - not 19,999.99.

You DO NOT need TLO (as said in some videos), we run and pay for all judgment and lien searches on every file.

3. If you complete your case research, and the last owner was a Bank or a Bank is entitled to entire surplus amount, we will not take the file. If you complete your case research, and a lien holder or creditors are entitled to entire surplus amount, we will not take the file. However, we will take any file where there is a lien holder or bank entitled and there still leaves at min $20,000 to the ex-owner. For instance, you find an open mortgage for $25,000 and the surplus is $45,000. We will take that file because it will leave $20,000 for the ex-owner. If there are open liens, judgments or mortgages, the total plus interest must leave at min $20,000 for the ex-owner(s) for us to accept the file.

4. On the worksheet, we need the physical address of the foreclosure, not the claimant's notification address. Do not put in parcel id #, tax id #, or legal description, unless there wasn't a physical address - vacant land.

5. Feedback - we will let you know when you get a claimant under contract and have the case set to petition.

6. Submit all required documents on the chain of title worksheet, if we are missing documents, we will not work your case. Also, remember to complete the correct chain of title worksheet, research mortgages, liens and judgments. Fill out conclusion sheet.

7. Put Files in Order - Make sure when you submit files to us, you have the chain of title worksheet first, followed by the supporting docs. If your files are not submitted in this manner, we will not work it. You will have to resubmit in correct order.

8. When submitting a file with mortgages in line for the surplus, DO NOT send the entire mortgages/lien/judgment document as they can be many pages. ONLY send the first 3 pages.

9. We will not take Surplus files in the following states, North Carolina, Florida (separte program), District of Columbia (DC), and Colorado.

10. We will not take any file where there is an active motion or claim to surplus by the owner.

11. If more than 1 owner, not married, we need at min $20k per person to work. Example - 3 owners on deed, all unmarried, there needs to be at minimum $60,000 in surplus for us to work the file.

12. Please write all persons listed as owners on the deed on the worksheet where it says, 'deed holders at time of foreclosure'. These names must also be on the conclusion page as they are entitled to surplus. Remember, person being foreclosed on and deed holders may include more or less people.

13. We pay commissions of 16% gross collected for both Tax and Mortgage surplus funds files. If total collected surplus is $50,000, we will pay researcher commission of $8,000. In the event that we are unable to receive a minumum of 16% of the gross amount held by the court, we will pay our researcher the entire amount received.

14. If the ex-owner is a LLC, LLP, corporation or company, we will only work the file if the company is still active and shows as active with the state (you will jave to show proof). You must be incontact with the owner(s) or the named officers only. If you cannot meet all of these requirements, do not submit the file as it will be automatically rejected, no exceptions. Mortgage companies, banks or financial institutions will NOT be accepted.

ONLINE INITIAL SURPLUS FILE SUBMISSION FORM (STEP 1):
Please fill out this online form to submit you inital file. This is used when submitting new files after you researched and before you have contacted the claimant(s). After you have made contact, you will submit the complete file with required supporting documents using the updated pdf worksheet.

ONLINE FILE FORM - Use this online form for initial file submissions

PLEASE USE UPDATED WORKSHEETS (STEP 2):
WORKSHEETS MUST REMAIN UNALTERED
SURPLUS FUNDS CHAIN OF TITLE 11124 - PREMIERE SURPLUS PARTNERSHIP 16.pdf - PDF worksheet
Use the worksheets to submit your completed file once you have sucessfully made contact as outlined in the program. Submit your file to the paperwork email with all required supporting documents.

UPDATES ON FILES

We will notify you if and when we get any of your files under contract.

VIDEOS FOR RESEARCHERS:

Title Work – example of hard title: