Services

REO Services

Save On Properties REO Division Manages, Lists & Sells REO Properties in Los Angeles County, Orange County, San Bernardino County, Riverside County, and San Diego County. We are your #1 Source for Foreclosure and Bank Owned Properties.

Our established relationships & our vast experience dealing with REO assets enables us to service our clients, investors and vendors with complete professionalism, while ensuring that all their needs are preserved.

Below is a list of duties that we have mastered when working with Banks & Asset Management Companies to service their assets.

PRE-FORECLOSURE ACTIVITIES

Broker Price Opinions - Exterior and Interior
Property condition inspections
Pre-foreclosure Interviews
Pre-foreclosure sale workouts
Preservation and Securing

OCCUPANCY STATUS REPORT/INTERVIEW

Upon Receipt of Faxed or Email Authorization:

If Occupied: Within 24 hours

Determine if occupants plan to vacate and when
Provide client with correct names of all occupants and their living arrangements
Build a relationship with the tenants

If Vacant:

Secure property and re-key

SURRENDER/EVICTION PROCEEDINGS

For Occupied Properties:

Negotiate cash for keys when authorized
Coordinate eviction with foreclosure attorney, sheriff, movers, locksmith, etc
Relocation Assistance

For Vacant Properties:

Secure and re-key property
Transfer utilities in to Broker's name or Client's name (depend on guidelines)

INITIAL REO FORECLOSURE INSPECTION REPORTS/BPO

Conduct preliminary comprehensive property inspection immediately following eviction or vacancy of property. Drive-by & Interior

Within 5 days if occupied:

If entry is permitted, prepare Interior BPO & Initial Inspection Report
Provide information on occupants' willingness to permit entry for Client's
Independent Appraiser, when applicable
When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided.

Within 5 days if vacant:

Complete a BPO and Initial Inspection Report with interior and exterior photos.
When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided

FORECLOSURE PROPERTY PRESERVATION/REPAIR BIDS

Property Preservation:

Secure property and/or board-up to FHA standards
Debris removal (interior and exterior)
Winterization/De-winterization
Activate systems
Perform lawn maintenance and Landscaping

Renovation:

Recommend list of repairs
Solicitation of bids from fill-time licensed contractors
Monitor repairs
Review invoices