Memphis REO Services

MemphisREO has years of experience in bank owned foreclosure properties and has achieved impressive results serving financial institutions around the Memphis, Tennessee area. We understand every aspect of REO services and are responsive to the individual requirements, systems and needs of our lender clients. Our goal is to provide the best asset management services to produce a sale for the highest dollar in the shortest amount of time.

WE OFFER:

  • Single Point of Contact REO Coordinator manages the listing and sale of all bank owned foreclosed properties for the company
  • Initial Property Condition Determination if bank foreclosure property is occupied or vacant, exercise cash-for-keys policy per lender instructions
  • Initial Property Start-Up with re-key, turn-on of utilities, initial interior & exterior trashout, initial interior clean, lawn cleanup
  • Trained, Experienced REO Agents and REALTORS – Professional Sales Team Specifically Trained To Expedite The Sale Of REO Bank Foreclosure Properties, Efficient Completion Of Paperwork And Reports
  • Broker Price Opinion (BPO) – Comprehensive Broker Price Opinion Report for Bank Owned REO With Necessary Repairs Noted, Interior And Exterior Photos (Digital), Property Tax Records, and Comparables
  • Repair bids Licensed and insured contractors (FreddieMac approved) provide required number of bids specified by client, correlation of bids and summary provided to client for easy evaluation
  • Rehab and Maintenance Services Supervision of vendors for timely completion of repairs or monthly maintenance needed, inspection of work and approval of invoices for Memphis bank owned home
  • Monthly Invoice Billing Staff accountant submits all original invoices and copies of checks for reimbursement, completes final invoicing per client instruction
  • Aggressive Marketing Plan Placement of bank owned REO property in MLS, preparation of marketing flyers, office caravan and Brokers Open, interval print advertising in local newspaper and homes magazines, Open House for prospective buyers, internet marketing
  • Sale & Closing Procedures Present and negotiate all offers for REO properties with client, submit accepted contract with all required addendums, coordination with closing agency for timely HUD-1 approval, attend final closing

Our Goal

MemphisREO is a group of highly motivated real estate professionals who specialize in managing, marketing and selling bank owned properties throughout the Memphis Area. After years of REO property foreclosure sales, we have a clear understanding of what you expect from us:

  • Prompt attention to detail
  • Diligent marketing efforts
  • Accountability for actions
  • Timely completion of assignments, and
  • A sense of urgency

Above all, you can expect results.

MemphisREO offers a strong blend of experience and enthusiasm in the professional management of your assets. From pre-foreclosure price opinions and occupancy checks to complete property management services and the listing/sale of bank REO properties, MemphisREO is committed to providing its clients with the most professional real estate service in the industry.

BPO Services of Memphis, TN

All Broker Price Opinon (BPO) valuations are completed on client BPO forms or client BPO website. You will always get an honest opinion of value for your bank owned property.

The information used on the valuations will be obtained through public records, multiple listing services, and by physical inspection of the subject property.

Interior BPO:
Contact with occupants, verification of occupancy, interior/exterior photos and itemization of any needed repairs including photos of areas of the bank owned home needing repair.

Exterior BPO:
Drive by BPO valuations with discreet exterior photos and itemization of any needed or anticipated repairs.

Special situations per request