Real Estate Owned
The goal is to successfully sell real estate owned by banks (REO) at maximum value so that loss from foreclosure is mitigated. Setting a list price for disposition of real estate can be challenging for many reasons. The objective of the servicer or asset manager must properly be reflected in setting a list price. Market considerations must be made for exposure time and property condition.
In addition to our standard requirements, our appraisers must have a history of completing REO appraisal reports. We mandate that appraisers completing these assignments participate in a teleconference to review the guidelines and objectives. The sessions are conducted by our experienced staff prior to any appraisal assignment.
Timelines are established with clients prior to the commencement of orders. The objective is to process the appraisal requests so that a reliable value can be established and the property can be listed quickly. Expeditious time cannot compromise the quality of the appraisal. Our auditing staff thoroughly reviews each report for data accuracy and integrity.
Currently, we work with asset managers to value all HUD REO in eight states. We have developed best practices that allow us to deliver a high quality report in a short period of time. We'll offer a process that will provide a comprehensive solution to valuing REO in bulk or flow. We'll establish timelines and pricing that will allow you to market properties quickly and effectively.
