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Home » Company Services
REO/Foreclosure Services
► Pre-foreclosure Activities
• Broker Price Opinions - Exterior and Interior
• Property condition inspections
• Pre-foreclosure interviews
• Pre-foreclosure sale workouts
• Preservation and Securing
► Occupancy Status Report/Interview
Upon receipt of faxed or e-mail authorization:
• Within 24 hours - If Occupied - Determine if occupants plan to vacate & when
• Provide Client with correct names of all occupants and their living arrangements
• If Vacant - secure property & re-key
► Surrender/Eviction Proceedings
For Occupied Properties:
• Negotiate cash for keys when authorized
• Coordinate eviction with foreclosure attorney, sheriff, movers, locksmith
• Attend eviction as Client's representative
For Vacant Properties:
• Secure & re-key property
• Transfer utilities (electric, water, gas, fuel oil services, etc.) in Broker's name or Client's name if requested
► Initial Inspection Reports/BPO
• Conduct preliminary comprehensive property inspection immediately following eviction or vacancy of the property
Within 5 days if Occupied:
• If entry is permitted, prepare an Interior BPO & Initial Inspection Report
• Provide information on occupants' willingness to permit entry for Client's Independent Appraiser, when applicable
• When the property is part of a Condominium or Homeowner's Association, an Association Information Sheet will be provided
Within 5 days if Vacant:
• Complete a BPO and Initial Inspection Report with interior and exterior images
• When the property is part of a Condominium or Homeowner's Association, an Association Information Sheet will be provided
*BPO's are updated every three (3) months, if requested.
► Property Preservation/Repair Bids
Property Preservation:
• Secure property and/or board-up to FHA standards
• Debris removal (interior and exterior)
• Winterization/De-winterization
• Activate systems
• Snow removal and lawn maintenance
Renovation:
• Recommend list of repairs
• Solicitation of bids
• Monitor repairs
• Review invoices
• Notify of satisfactory completion of work
► Marketing the Property
Upon receipt of Signed Listing Agreement
• Signed placed on the property
• Enter property data into Multiple Listing Services
• Begin marketing with full exposure to advertising media, newspapers, magazines, etc.
• Direct mail-outs to investor clientele list, neighbors, etc.
• Fax/e-mail brochures to area Brokers with updates
• Enter on website
Ongoing services through closing:
• Property Condition Inspection (reported monthly)
• Showing and Prospect Comments (reported monthly)
• Marketing Updates (monthly)
• Progress Reports (monthly)
• Invoices to Client for monthly reimbursements
► Sales Agreement and Closing Procedure
• Overnight original final Contract of Sale to Client
• Under Contract Weekly Status Reports sent to Client
• Broker Closing Progress
• Contract to Closing checklist - monitored daily with strict Buyer and Buyer's agent performance guidelines
• Confirm that all reimbursement invoices were paid prior to closing
Broker's Price Opinions
► Drive-By or Interior Inspections
• Upon request, we will complete a MarketStudy Evaluation on the current market listings, sales, trends, and conditions.
• BPO's are completed on the Client's standard form or website along with attached digital images or e-mailed images.
• Due dates and Client deadlines are critical and rush orders are accepted. Fees are negotiable.
• A minimum of three (3) images are provided with Drive-By BPO's and up to twenty-four (24) images with Interior BPO's. All digital images are uploaded to Client's website.
• Tax records are searched and findings are included with the BPO. When necessary, we secure data from the local Tax Assessor's office.
• Upon request, we can include a minimum of three (3) sales and three (3) listing comparables with images.
• Occupant contact, when requested, will include names of occupants, phone numbers, lease information (when applicable) and interior inspected (when permitted).
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