REOs and BPOs Service
The Five Star Sales Team at Gracious Living Realty specializes in handling
BPOs and REOs for asset managers. They are equipped to handle every aspect of selling bank-owned assets, from the
initial contact for a BPO, through re-keying and trash out to sales negotiations and final settlement.
We are very conscious of the fact that time is money with REOs and we do everything in our power to expedite the
process and to realize the maximum value for the asset.
In the past two years alone we have carried out over 500 BPOs and inspections in Northern Virginia, and our
team has sold more than 50 REO properties, with a value of over $6 million. Our average DOM is under 50
Our team’s objective is to work with lending institutions, financial outsourcing companies and HUD, to assist
with the evaluation and liquidation of their real property assets. We can do this in a way that is both timely and
cost-effective for our clients, primarily through our use of systems and technology to maintain schedules and
As well as improving office efficiency and effectiveness, our technology systems enable us to communicate
progress and changes to our clients quickly, via smartphones, iPads, email and fax.
Including, but not limited to:
BPOs . Vacancy inspections . Digital photography . Cash for keys . Evictions . Rekeying . Utility activation .
Coordination of property preservation . Winterization . Trash-outs . Property inspections . Market analyses .
Marketing plans . REO listings . Monthly status reports . Monthly marketing reports . Expense management . Sales
Professional BPOs and Asset Valuations
We provide a professional opinion of value carried out by a licensed real estate professional, in a timely
manner. This is typically delivered within 48 hours of the request, but can be done within 24 hours in urgent
BPOs can be based either on a drive-by exterior valuation or on an interior inspection, with the additional
provision of all relevant data such as previous sale values, tax assessments, and comparable sales and
We always include clear photographs of the asset with at least three pictures:
- Address verification
- Street view
- Exterior front view
Where possible we also provide side and rear elevations.
Cash-For-Keys and Eviction Assistance
When appropriate, we can help the asset manager to negotiate a deal with the homeowner to vacate the property
and leave it in reasonable condition. This is often preferable to a forced eviction with the possibility of damage
Our property manager will secure vacant assets, re-key them and have them trashed out, as well
as perform regular exterior maintenance such as grass cutting or snow clearance.
Our team includes a professional marketer with experience of both conventional and Internet
marketing, to ensure that your asset gets the fullest possible exposure in the shortest possible time.
Our office manager will complete and maintain all records, prepare and submit monthly
management (MMRs) or status report (MSRs). She is also responsible for managing the presentation of
offers and counter-offers, as well as liaising with all parties involved to ensure that the negotiations and
settlement are completed in a timely manner.