All REO Work is exclusively overseen and operated by Albert Joy, under the REO division of Ascend Properties LLC. This description entails only the services applicable to REO work.
Albert currently manages 100 REO properties at any given time. The current capability of the office is to intake 8 new full-service REO properties per week. We close anywhere from 8 to 15 escrows per month. We are one of the few service providers that offer service to five of the 8 populated Major islands in the State of Hawaii. Albert personally completes every BPO, visits every property, and audits every contractor bid. In 2008 He was recognized as the 21st top producing agent in the State of Hawaii out of 18,000+ licensees. In 2009, he sold almost 50% more. You have a choice in REO: Manage for competence, or hire for excellence.
The steps involved in carrying out a full marketing package for each REO property includes but is not limited to:
- We will include rent analysis if requested with the BPO for no additional charge.
- We will do a second opinion BPO for no charge for potential new clients
- Physical visits to the property every 3 working days.
- Diagnosis and turn on of utilities in HREPʼs name.
- Detailed price opinion (BPO) with 48-96 pictures completed in 5–10 days.
- 2 to 3 identical licensed contractor bids placed on FNMA approved forms.
- Performing occupancy status reports.
- Offering prior mortgagors money to vacate the property in good condition.
- Ordering and supervising the removal and disposal of personal property.
- Arranging for roof, septic or cesspool certifications, if necessary.
- Initiate monthly yard service, where necessary.
- Monthly invoicing and reconciliation of statements.
- Initiate termite inspections.
- Document and make recommendation as to property repairs required.
- Handle emergency calls.
- Order and pay for leasehold and condominium documents and disclosures as necessary.
- Report and handle trespass situations and secure property.
- Improve the property during monthly maintenance, according to approval limits.
- Make detailed recommendation for sale strategy of each property.
- Securing the property, rekeying and boarding windows and doors if necessary.
- Coordination with attorney and sheriff to effectuate possession of the property.
- Gather and organize each vendorʼs contact and tax ID information.
- Submit invoices by property once a month, with all supporting documentation.
- Install lockboxes within 24 hours of notice.
- Rekey property within 24 hours of notice.
- Install signs on property within 24 hours of notice.
- Respond to any asset manager request within 1 business day, usually instantly.
