Any REO is a high liability, non producing asset that needs to be turned into cash as soon as possible. FCI is an experienced expert at managing this process.
We become your REO department on an as needed basis and your single point of contact for any number of national properties. Our focus is to reduce holding time, minimize expenses, and obtain the highest possible price. FCI has a carefully selected national network of agents, contractors and related servicers.
REO Services include:
Property Management: Vacate and secure property, connect utilities, do trash out, maintain pool/spa and landscaping, obtain bids and supervise repairs, arrange termite inspection and repair, correct encroachment problems, do regular property inspections, and send monthly status reports.
Property Valuation: Complete BPO package or appraisal, as-is and repaired.
Property Sale: Aggressive multifaceted marketing, receive offers and make recommendations for counters, qualify buyers, arrange financing, coordinate closing.
Properties must be set up in Specialty Loan Servicing at the regular $95 month management fee, or may be a continuation of a foreclosed note already in servicing. For most properties there is a standard 6% listing with a $2750 minimum. There is a $750 deposit to start, a $500 early cancellation fee, and associated hard costs such as rekey, board up, clean out, rehab, etc.
Geographic Area
REO services are available nationally.
For questions or additional information, please CLICK HERE.
