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

Upon Receipt of Faxed or Email Authorization:

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, etc
Provide Client with correct names of all occupants and their living arrangements
If vacant – secure property and re-key
Relocation Assistance

For Vacant Properties:

Secure and re-key property
Transfer utilities in to Broker’s name or Client’s name (depend on guidelines)
Live-in house watchers and close relations with Sheriffs & Police throughout counties.

         INITIAL REO FORECLOSURE INSPECTION REPORTS/BPO

Conduct preliminary comprehensive property inspection immediately following eviction or vacancy of property
Drive-by and Interior

Within 5 days if occupied:

If entry is permitted, prepare an interior BPO & Initial Inspection Report
Provide information on occupants' willingness to permit entry for Client's Independent Appraiser, when applicable
When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided

Within 5 days 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

           FORECLOSURE PROPERTY PRESERVATION/REPAIR BIDS

Property Preservation:

Secure property and/or board-up to FHA standards
Debris removal (interior and exterior)
Winterization/De-winterization
Activate systems
Perform lawn maintenance and Landscaping

Renovation:

Recommend list of repairs
Solicitation of bids from fill-time licensed contractors
Monitor repairs
Review invoices
Notify clients of satisfactory completion of work
Emergency maintenance