Bank/Asset Management Services
REO Asset Management
The Advantage Group provides asset management services to private and public organizations that have non-performing real estate assets, or REOs, in their portfolios. Our REO clients count on us to effectively track and manage transactions involving distressed properties from the offer through to close of escrow, with efficient communication and professional attention to detail throughout the process.
At TAG, our goal is to expand homeownership through, if applicable, rehabilitation or modernization of properties that otherwise would remain unsold due to their conditions. We work closely with the lender’s asset or portfolio manager to lower the cost of asset management, enhance the value of the distressed asset, and obtain a higher net return for our client.
Property Assessment, Restoration and Preparation
TAG is very proactive in assessing each distressed property to make sure that it is ready for sale. We conduct home valuations by real estate and where applicable, construction specialists and provide property repair estimates from full-time, licensed contractors, and restore the property when necessary. We handle property surrender and eviction, if necessary. We also continue to monitor the home’s condition until close of escrow.
Our seasoned and motivated agents use their many years of REO experience and extensive knowledge of today’s challenging real estate markets to effectively price, market and sell these properties. We develop a customized marketing package to showcase the property and its potential value to prospective buyers and list the property with the Multiple Listing Service and actively pursue buyers.
We also hold broker education seminars on how their buyers can purchase REO properties as well as informational sessions for potential buyers so that they feel confident about the process and know what is involved in purchasing a home in need of repairs.
TAG has developed and implemented various detailed sales tracking systems to ensure the timely close of escrow. We work with our REO clients to streamline the home selling, buying, lending, and as appropriate, rehabilitation process, efficiently managing all of the process elements and timelines. We furnish ongoing progress reports and day-to-day oversight and maintenance of the property. We handle offers and contract review and coordinate with asset managers, escrow officers and buyer agents for a smooth, on-time closing.