Services

REO Asset Management Process

Real Estate Property Evaluation and Setup

Real Estate Property Evaluation and Setup

  • Assign qualified, established REO agent to property
  • Secure, inspect and winterize property
  • Determine Occupancy
  • Offer Cash for Keys (CFK) (if occupied)
  • Initiate and manage eviction process
  • Evaluate property condition
  • Order title report
  • Perform title curative work
  • Provide detailed marketing plan with photos
  • Order appraisal or 2nd BPO
  • Obtain bids for trash-out, maintenance and rehab
  • Evaluate environmental, safety and compliance issues
Marketing

Marketing

  • Develop property marketing strategy
  • Establish list/sale price according to predetermined limits
  • Establish tracking/monitoring system
  • Provide monthly marketing report
  • Evaluate strategy and pricing every 30 days
Property Management

Property Management

  • Order and oversee rehab and maintenance
  • Weekly occupancy status report
  • Monthly inspection reports
  • Tracking and timely payment of property expenses such as HOA, etc.
Contract Negotiation and Closing

Contract Negotiation and Closing

  • Negotiate offers within predetermined authority levels
  • Provide detailed net sheet with all offers
  • Manage closing process
  • Ensure timely receipt of sale proceeds
  • Receive billings
  • Create final invoicing to client
Reporting

Reporting

  • Provide monthly status reports on all properties
  • Provide monthly summary reports on sold properties
  • Provide monthly expenditure reporting

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Testimonials

Thoughts from LouAnn Howard

former Sr. Vice President of Central Mortgage Co.

Since 1994, we have used Ann Ball previously Ball Asset Management, as our sole nationwide outsourcer to market our REO portfolio. It was a good day for our company when we met Ann. We have found, she and her staff, now Bankers Asset Management, to be efficient, effective, easy to work with, and willing to adjust their work flows to our needs. I feel they would be an asset to any organization.

Tom DiMercurio Owner, The Mercury Alliance, LLC

Previously President/COO Fidelity National Asset Management Solutions shares thoughts
from a working relationship spanning over 20 years:

Ann Ball is a broker's broker. After working with her for over 20 years first as a client, then as an outsourcer and now as a local REO broker, I know that Ann really knows the business on all levels.

Mathew Spencer, Sr. Vice President/Special Assets, Regions Bank

Testament to cost-savings approach and management expertise

For over 10 years... Ms. Ball and her group have shown capability in handling a large volume of residential and small commercial properties on a nationwide basis. She has an excellent track record of disposing of foreclosed properties in a timely manner at a good price. Through her management, the bank has realized significant cost savings.