REO Lender Services
This is a synopsis of our general marketing strategy. This plan will be tailored according to your individual needs and procedural standards.
Pre-Foreclosure Determine occupancy
- If vacant
- Secure property and comply with any minimum city ordinances.
- If occupied
- Take exterior photographs
- Perform drive-by broker price opinion.
Monitor property on a weekly basis and advise client of any change.
Post-Foreclosure Determine occupancy
If vacant Secure property and comply with any minimum city ordinances. Prepare full broker price opinion to include:
- Repair estimates
- Photographs
- Termite report
Listing & Marketing
- Input into multiple listing services
- Install sign/eye-catching riders
- REO advertising in various publications
- Circulate flyers to area businesses, residents, tenants, and brokers
- Exposure to the Internet
- Broker and public open houses
- Door knocking
- Photo/financing fact sheets
Rehabilitation & Maintenance
- Initiate utilities as appropriate
- Initiate initial trash out, cleaning and landscape
- Set-up monthly maintenance
- Monitor repairs authorized
- Provide completion photographs of repairs, along with invoice
If occupied Prepare drive-by broker price opinion with exterior photographs Negotiate the following for possession, as directed:
- Cash for keys
- Prepare Move out, Personal Property and Hold Harmless agreement
- Prepare rental agreements (usually only on units)
- Maintain property
- Collect rents
Inspect weekly
- Advise seller and/or attorney of any changes
Monitor eviction process
- Attend trial as witness
- Meet authorities for lockout
- Rekey and secure property