REOs and BPOs Service

Thom Miller and his team specialize 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.

These are some of the services offered:

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 72 hours of the request, but can be done within 24 hours in urgent cases.

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 listings.

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

Where 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 being incurred.

Property Preservation

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.

Marketing

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.

Administration

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.