REO Services

Pre-Foreclosure

Road Runner REO will perform and coordinate all the services necessary before you foreclose on a property:

Drive-By Evaluations – Because we belong to industry top listing and service in our area, we draw on the most extensive base of comparables to forecast the value of your property from the street.

Occupancy Verifications – We confirm that the owner has abandoned the property.

For the purpose of property preservation, we will coordinate:

  • Board Ups – We board up windows and otherwise secure an abandoned property.
  • Winterizations – In cold weather, we make certain that the property is protected against bursting pipes.
  • Re-key and Padlock – To secure the property, we will issue new keys and, when necessary, add padlocks.
  • Grounds Keeping – We take care of lawn cutting and maintenance of the grounds.

REO-Specific Services

After your properties have been through the foreclosure and eviction process, Road Runner REO has the expertise to help you prepare your houses for market.

Competitive Market Analysis – We will complete two extensive Competitive Market Analyses (CMA)  – one for the property as-is and one if restored to market condition. We will use your customized form or supply our own standard form and email our digital photos along with the results.

Trash and Debris Removal – Road Runner REO can have your property broom-cleaned in just 48 hours. If there is an extensive amount of trash and no pre-approval for the expense, we will obtain bids for you to approve. If you grant us approval for a pre-determined dollar amount for trash removal and cleaning, Road Runner REO will have the trash removed and the property broom-cleaned immediately after taking our digital photos.

Evictions and Cash for Keys – We will coordinate the entire eviction process including sheriffs, movers and locksmiths.  If necessary, we will encourage homeowners to vacate by offering to pay them for their keys.

Repairing Properties – Road Runner is better equipped than its competitors to help you decide whether to fix up a home for sale. Our full-time, property managers draws on 30 years of construction experience to prepare very detailed bid specifications to give to multiple contractors.

Marketing As-Is – To sell a property in “as-is” condition, all we need is a list price and a listing agreement. That means we will always list your property immediately in the appropriate listing services. While not all companies offer and encourage co-brokering, Road Runner REO is committed to making it available on every single one of our listings.

Bill Paying – Upon your written approval, Road Runner REO will  advance payment for all utility bills, homeowner associations, lawn maintenance, snow removal, and repairs up to a maximum of $10,000. We will invoice you every 30 days for reimbursement. Before closing, Road Runner REO will submit a statement of all expenses. At that time, we will estimate the final utilities or, if you prefer, we will submit all actual bills within 30 days of closing.

 

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