REO (Bank Owned) | Foreclosed Property Expert

May 23, 2025 | As a former banker, I have a first hand understanding of the lenders perspective.  Timliness, attention to detail, organization, delegation, follow-up and follow-through are my daily activities.  As an REO Broker, my goal is to get the highest sale price for the real estate and asset manager client.  My experience as a Short Sale Specialist has given me valuable experience over the last 7 years.  Service is very important and my goal is to provide all the necessary assistance that asset managers need including:

1. Checking occupancy within 24 hours from assignment and reporting back.  Taking pictures and making an initial assessment of property to see if it is secure, occupied, if any hazardous conditions exist and if trash-out and / or board-up is needed.
2. If vacant, re-keying property with-in 24 hours done by my vendor or with property preservation company (Safeguard, Cyprexx or FAS).
3. If occupied, reporting occupants name(s), existence of lease, rental history, and if notice has been received.
4. Serving Occupant with applicable notices, taking pictures of notices posted.
5. Working with the attorneys as they start the eviction process and representing the lender during Sheriff Eviction.
6. Coordinate the eviction lock out and allowing the previous tenant access to remove belongings.
7. Taking pictures to inventory previous tenants personal items if left behind and moving and storing for the required time period.
8. Getting my hands dirty in assisting with the trash out, taking before and after pictures and working with vendors to secure the property with board-ups.
9. Turn utilities on in my name and posting appropriate notices on property (per lender guidelines).
10. Completing weekly lender required reports.
11. Obtain estimates from licensed tradespeople for repairs requested by lender.
12. Marketing of the property for sale to obtain maximum public exposure with the most reliable platforms being the MLS and the internet www.jasonhector.com. Marketing the lender programs being offered by asset manager for in house financing like (HomePath).
13. Monitoring and updating Lender REO management system daily (eg. Equator, RES.net) to ensure that all tasks are completed within the deadlines provided by the asset manager.
14. Making sure that Purchase Offers are complete and include a pre-approval letter from direct endorsement lender, proof of funds suffient to cover closing costs and reserves, and credit scores if requested.
15. Completing Broker Price Opinion (BPO), Monthly Marketing Reports (MMR) and checking the properties at least weekly for any signs of vandalism.