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Tuesday, 28 June 2011 20:40

REO Services

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REO Service

Initial Services: Lock changes, bids and estimates on any damages, yard cut, debris removal – all dependent on the requirements of the client and loan type.

Securing Services: Lock changes, lockboxes, padlocks, boarding, security doors, etc. Anything required by the client to make sure the property is secured from vandals, vagrants, and other unforeseeable things.

Debris Removal: We will remove all exterior and interior debris from property per work order provided. We measure amount of debris by cubic yards. We follow FHA/ HUD and Conventional guidelines for the amount charged per cubic yard removed. We will also dispose of the debris at a local or regional landfill.

Yard Maintenance: This includes a lawn cut, weed eating, and trimming bushes per the allowable set forth by the FHA/ HUD, Conventional, and Veterans Benefits Administration regulations and guidelines. If the property has grass over 16” or a lot size over 15,000 square feet, we will provide a bid or estimate to cut the “over allowable” lot.

Janitorial Services : This includes removing debris from property, any pool or spa work, providing air fresheners, cleaning of the restrooms, providing estimates for any damages or repairs needed, sweeping floors after debris removal, and winterizing property within the dates set for by the state regulations.

Scope of Repairs/ Bid: We will provide a bid or estimate for any repairs or damages seen at the property. We will not do any work at that time; however, we will provide a detailed list of items that need to be fixed or removed or replaced. We can also do itemized bids for specific things. For example, if the client only wants a bid or estimate for mold growth and remediation and abatement, we can provide a document with just those specific items on it.

REO Eviction Services: Meet with Sheriff per appointment, and proceed to secure property and remove debris per Sheriff’s instructions, as well as provide a bid or estimate for further work.

Monthly Services:

Yard Maintenance: Cutting the property’s lawn twice a month to keep the yard clean and manicured.

Janitorial Services: Cleaning, repairing, bringing property up to convey condition.

REO Grass cuts: Yard maintenance on property – lawn cut, weed eating, trimming bushes and edges.

REO Repair/ Bid Approval: We will go out to the property and do repairs or bid approvals on specific things on the work order from the client.

Cash for Keys: The mortgage company will provide a certain amount for the property for the keys and rights to it.

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