I. PROPERTY INSPECTION/MARKET ANALYSIS (Also available for pre-foreclosure sales information)
A. The property’s marketing potential is the most important information you need to market the property efficiently and effectively.
1. Guarantee occupancy status within 24 hours.
2. Evaluate the condition of the property.
3. Neighborhood/Area economic comparison.
4. Evaluate neighborhood appreciation or decline.
5. Interior/Exterior photographs of subject.
6. Determine square footage/living space.
7. Determine homeowners association information if applicable.
8. Provide itemized list of recommended repairs.
9. Determine number of recently sold and listed properties.
10. Provide copies of recently sold and listed properties.
11. Provide both “as is” and “improved” values.
12. Return complete and thorough market analysis within 5 days.
II. UPON PROPERTY ASSIGNMENT
A. Inspect to determine occupancy status.
B. Inform client of occupancy status within 24 hours.
C. If Occupied:
1. Determine who occupant is.
2. Work with occupants on alternate dispossession.
3. Follow up on eviction status with foreclosure attorney & client.
4. Coordinate eviction, if necessary.
5. Supply re-securing company, if requested.
6. Supply moving company, if requested.
7. Represent client at eviction.
8. Coordinate rent receivership, if requested.
D. If Vacant
1. Re-secure property.
2. Request board-up, if necessary.
3. Place sign on property immediately.
III. PROPERTY MANAGEMENT/PRESERVATION
A. Re-secure property.
B. Install lockbox for access by cooperating real estate brokers.
C. Provide immediate access for appraiser.
D. Provide a detailed “market analysis/brokers price opinion”.
E. Arrange preservation including winterization, snow removal, lawn maintenance, and system activation.
F. Provide contractor bids to have property cleaned out/debris removal.
G. Obtain bids for possible renovation.
H. Manage renovation to successful completion.
I. Inform client of successful renovation completion for invoicing.
J. Make weekly property inspections.
K. Provide property development status, as necessary.
L. Provide monthly, or as requested, status reports.
IV. SUCCESSFUL MARKETING
A. We will plan and coordinate all marketing strategies.
1.Submit property to local multiple listing services.
2. Advertise the property regularly.
3. Hold regularly scheduled open houses.
4. Notify our sizable list of buyers/investors.
5. Inform all residents and local real estate brokers.
6. Provide detailed “data sheets” on all properties.
7. Hold broker caravans regularly.
8. Submit all written offers to purchase in a timely manner.
9. Submit to national multiple listing system.
10. Expose through national referral service (over 3,000 offices).
V. PROCESSING AND CLOSING OF SALES
A. Pre-qualify all prospective purchasers.
B. Insure all contracts of sale are satisfactorily completed and executed.
C. Insure prospective purchaser applies for mortgage loan immediately.
D. Hold all deposit monies in a designated trust account or insure all monies are submitted to seller’s attorney in a timely manner.
E. Monitor the mortgage process.
F. Continue to inspect property on a weekly basis.
G. Make sure all contingencies in contract are met.
H. Notify seller of all contract developments.
I. Provide access to property for inspections.
J. Coordinate closing with buyer and seller’s attorneys.
K. Attend closing and provide purchaser with key to property.
L. Remove lockbox and sign from property.
M. Notify seller upon completion of closing.
V. RENT RECEIVERSHIP
A. Verify all occupancy data within 24 hours.
B. Send appropriate letters, leases and instruction.
C. Collect rents or find tenants were applicable.
D. Supply monthly reports, tenant logs and income/expense reports.
E. Attend court and obtain lock-out judgment
