OVERVIEW:
Our company provides full asset management services for lenders with real estate owned (REO) properties. Our broad background in real estate appraisal, real estate sales, and property management gives our clients a solid platform from which to market their properties successfully. With our approved contractors, most of which we have worked with for many years, we are able to supervise repairs and upgrades to a property to maximize the recovery possible from your REO properties. We have extensive experience in Santa Cruz, Santa Clara, San Benito, and Monterey Counties. It is our belief that many lenders today are leaving money on the table in their haste to dispose of their REO inventory. Often they are asking the brokers to handle "cash for keys', repair upgrades, and other tasks with their only compensation being the receipt of the listing. We charge hourly for our non-listing related services. We assist our clients in analyzing the anticipated sale price with and without repairs to demonstrate the effectiveness of marketing properties in good condition that are more easily financed. There is a better way to handle the dispostion of your assets, we are your full solution. We are not simply listing agents, we are real estate professionals working to maximize the recovery possible from your asset.
LISTING SERVICES:
- Prepare Broker’s Price Opinion of the Property.
- Solicit Independent Appraisal on the Property from an outside appraisal firm. The expense of the independent appraisal is to be paid for by the client. This second opinion by an Independent Appraiser is recommended.
- Recommend a Listing Price.
- Market the Property, including advertising, open houses, broker tours, etc.
PROPERTY MANAGEMENT RELATED SERVICES INCLUDING REPAIR AND UPGRADE SUPERVISION:
- SUPERVISION OF EVICTIONS: Work toward getting possession of the property with the occupant if necessary, perhaps “cash for keys” strategy, or if necessary a formal eviction through a local attorney. This service does not include the actual attorney or eviction costs that might be required.
- PREPARING THE PROPERTY FOR SALE: Evaluate the property and recommend repairs to improve its’ marketability if necessary. All “health and safety” issues should be resolved.
- MANAGING THE PROPERTY DURING EXTENDED PERIODS OF VACANCY:
Visit the property periodically (once per week or more if necessary) to check for maintenance problems, vandalism, and other issues.
Notes: Billing for these services to be made monthly to the nearest ¼ of an hour. All “health and safety” issues should be resolved.
ASSET MANAGER RELATED SERVICES:
SUPERVISE PROJECT AND REPORT TO CFO OR DESIGNATED BANK REPRESENTATIVE:
Review repair requests, marketing plan, financing options, occupancy issues, etc. In addition submit monthly progress reports, recommendation on price adjustments, repair suggestions, financing options, and other issues that may need to be resolved or amended to facilitate a successful completion of the project. Basically supervise and report on all aspects of the project to the appropriate person at the Bank. Listing related services and Property Management related services will not be billed out under this service. Notes: Billing for these services to be made monthly to the nearest ¼ of an hour. All “health and safety” issues should be resolved.
MEMBERSHIPS:
We are members of the following organizations.
* NAIFA-National Association of Independent Fee Appraisers.
* FREA-Foundation of Real Estate Appraisers.
* NAR-National Association of Realtors.
* NAR-National Association of Realtors Appraisal Section.
* CAR-California Association of Realtors.
* SCAOR-Santa Cruz Association of Realtors.
* MLSListings.
|
