Initial Property Assignment
Once a property is assigned, we jump into action. Time is of the essence with these properties, and we make it a priority to get you the information you need as soon as possible.
Upon initial assignment, we:
- Inspect the property and submit an occupancy status report to our client within 24 hours of property assignment.
- If the property is in Redemption status, we wait for approval from the client to contact the current occupants.
- If the property is NOT in Redemption status and found to be occupied, we obtain any information regarding the tenancy occupants have.
- We comply with the PFTA and all applicable local laws throughout the entire process, ensuring a smooth start to the transaction.
During the occupancy period we perform a minimum of weekly drive-by inspections, make note of any material changes at the property, and provide a drive-by BPO within five calendar days of assignment. The drive-by BPO includes several exterior photos of the subject property so our clients can begin the process of analyzing the property.
VACANT PROPERTY REGISTRATION
We complete the vacant property registration. We work closely with our clients to confirm the proper registration documents have been filed in accordance with local laws and requirements. Timely action and clear communication with all involved parties is what sets us apart.
HOME OWNER ASSOCIATIONS
Neighborhood Home Owner Associations are an extra consideration when working with REO and foreclosure properties. As such, we take the care and time necessary to ensure a smooth transfer of utilities into our name. We also make certain the HOA, if applicable, is notified and those contacts are current. We work with our client to obtain monthly itemized statements from the HOA to include enumerated fees and assessments that are allowable under applicable ordinances or bylaws.