REO & Lender Services
Randall helps clients with their residential and commercial real estate needs. Through his relationships with clients, banks, lenders, servicing, and investors, companies have seen his capabilities and have hired him on as a REO Agent to handle their foreclosed, repossessed, and corporate owned properties.
Randall and his team know that time is of the essence when it comes to properties which have been foreclosed, REO, and/or corporate owned. Depending on the needs of the client, Randall is ready to implement all of the following steps to make sure that client losses are mitigated:
1. Occupancy Status and Property Securing:
Within the first 24 hours, the property will be visited to determine if it is being occupied. If the property is occupied, per client's request, Randall and his team will move forward with an eviction, cash-for-keys program, or whatever else the client feels should be implemented. If the property is vacant, it will be secured, a lockbox will be installed in a safe and secure site, and any further actions the client request will be completed.
2. Maintenance & Staging:
Photos of the subject property will be taken and sent with a Broker's Price Opinion (BPO). The BPO explains what up keep may be recommended, any safety concerns which need to be addressed immediately, and if there is any left over items or trash from the previous owners/tenants. Once an authorization for work has been received, contracted employees will begin their work.
Per the request of the client, bills will be paid by The Property Works or placed in the client's name. Recurring monthly bill's such as gardening and utilities will be paid and reimbursements requests will be submitted as client's policy and procedures state.
4. Listing the Property:
To begin the listing of the property, a Broker Price Opinion (BPO) will be completed. The BPO will explain the market conditions in the neighborhood and include active and sold comparables that match the subject property as well as photos of the comparables. The BPO will also provide pictures of the interior/exterior of the listing property, a detailed report of the condition of the subject property, a marketing sales plan, and an explanation of any local and/or state mandatory repairs or disclosures that are needed to be completed.
5. Receiving Offers:
Offers will be presented as instructed by the client. Buyers will be required to submit documentation with the pre-approval letters, proof of funds, and any other documentation that would be required for the subject property.
6. Post Closing:
Once escrow has closed, all final invoices will be submitted and paperwork required for clients internal documents will be settled.