· One Point Contact - REO Coordinator manages and streamlines the listing and sale of all REO properties for the company.
· Trained, Experienced REO Staff - Professional sales team specifically trained to expedite the sale of REO properties, efficient completion of paperwork and reports via Internet.
· Technology - State of the art case management technology deployable to clients via the Internet.
· Initial Property Inspection - Determination if property is occupied or vacant, obtain occupants name/telephone number and what their intentions are and exercise cash-for-keys policy per lender instructions. Provide a detailed list of claimable property damage.
· Initial Start-Up – Securing, re-key property, turn-on utilities, initial interior & exterior trash-out, initial interior detailed cleaning, lawn clean-up, hazardous removal, window repairs/replacement/boarding, and emergency repairs.
· Broker Price Opinion - Comprehensive broker price opinion reports with necessary repairs noted, interior and exterior photos (digital), property tax records and comparables.
· Repair bids - Licensed and insured contractors (FreddieMac approved) provide required number of bids specified by client, correlation of bids and summary provided to client for easy evaluation.
· Repair and Maintenance Services - Supervision of vendors for timely completion of repairs or periodic maintenance as required, inspection of work and approval of invoices.
· Ongoing Maintenance - Weekly inspections, lawn cuts & maintenance, minor and emergency repairs.
· Monthly Billing - Submission of all original invoices and copies of checks for reimbursement and complete final invoicing per client instructions.
· Pro-Active Marketing Plan - Placement of property on MLS, preparation of marketing flyers, signage to comply with local ordinances, neighborhood canvassing, office caravan and Brokers Open House, print advertising in local periodicals, Open House for prospective buyers and internet marketing.
· Contract Presentation - Present and negotiate all offers with client, submit accepted contract with all required documentation. Verify buyer pre-qualification.
· Final Closing - Coordinating with all parties and closing agents for timely HUD-1 approval and settlement, as well as, final disbursement of funds.