Property Management: Vacate and secure property, connect utilities, do trash out, maintain pool/spa and landscaping, obtain bids and supervise repairs, arrange termite inspection and repair, correct encroachment
problems, do regular property inspections, and send monthly status reports.
Complete BPO package or appraisal, as-is and repaired.
Property Sale: Aggressive multifaceted marketing, receive offers and make recommendations for counters, qualify buyers, arrange financing, coordinate closing.
The Lender's chosen REO Services Provider should become it's REO Department on an as needed basis and their single point of contact for any number of national properties. The focus should be to reduce holding time, minimize expenses, and obtain a fair price. They should have a carefully selected national network of agents, contractors and related services.