Step 1: Property Evaluation and Setup

• Secure, inspect and winterize property;
• Evaluate property condition;
• Provide detailed market analysis with photos;
• Obtain bids for property clean-out, repair and maintenance;
• Evaluate environmental and compliance issues.

Step 2: Marketing

• Establish marketing strategy with financial projections;
• Provide qualified, experienced REO broker;
• Establish tracking/monitoring system;
• Review strategy and pricing every 30 days.

Step 3: Reporting

• Provide monthly status reports on all properties;
• Provide monthly and year-end summary reports on sold properties;
• Monthly expenditure reporting;
• Retain records for five years.

Step 4: Property Management

• Supervise repairs and maintenance;
• Monthly inspection reports;
• Select on-site property manager when applicable;
• Timely Payment of Property expenses (optional).

Step 5: Negotiation and Closing

• Counter, reject or accept offers within approved limits;
• Provide detailed net sheet with all offers;
• Coordinate closing process;
• Ensure timely receipt of sale proceeds;
• Ensure finalization of all services;
• Submit detailed closed file.