Asset Managers

OC REO Team is a full service REO firm focused on providing a one stop shop for Lenders and Asset Managers to secure, manage and sell your distressed assets With a focus on maximizing net proceeds and minimizing days on market, OC REO Team will deploy results oriented strategies to get your assets sold. Please contact us with any questions surrounding our 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

• Within 24 hours - If Occupied-Determine if occupants plan to vacate and when
• Provide Client with correct names of all occupants and their living arrangements
• If vacant - secure property and 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 and re-key property
• Transfer utilities (electric, gas, water etc.) in Broker's name or Client's name if requested

Initial Inspection Reports/BPO

If Occupied:

• Conduct preliminary comprehensive property inspection immediately following eviction or vacancy of property
• If entry is permitted, prepare an interior BPO & Initial Inspection Report
• When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided

If Vacant:

• Complete a BPO and Initial Inspection Report with interior and exterior photos
• When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided

Property Preservation/Repair Bids

Property Preservation:

• Secure property and/or board-up to FHA standards
• Debris removal (interior and exterior)
• Activate systems
• 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:

• Sign 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 Inspection Condition (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 faxed 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