REO Services:

Security is of the essence when properties are being prepared for sale. TradeMark understands this, and we expect all REO properties to be secured within 48 hours of the initial services order being placed. Not only are we concerned with protecting the property, but we realize that other parties--brokers, appraisers, and potential buyers--are counting on us to do our part so that they can do theirs.

During the initial service visit, all properties are secured according to our client's specifications. In general, all locks are changed (including dead bolts) and keyed to a client-specified code. Padlocks are then placed an all outbuildings and sheds. Pool areas are secured with padlocks on surrounding fences. We then install a lock box with working keys inside, to facilitate future access for contractors, inspectors, the listing agent, and buyers' agents. In addition, any opening which possesses security risks, including broken windows and doors, and unsecured crawl spaces, is boarded based on FHA standards.

Winterization is a critical component of property preservation. Without proper attention, unoccupied properties can incur serious damage to their interiors, plumbing and fixtures during the cold winter months. TradeMark routinely completes winterizations on dry, steam and radiant heat systems to prevent what could result in costly repairs.

Our contractors adhere to a thorough checklist of tasks when completing winterizations. These steps include:

• Draining the hot water tank
• Draining water lines and air pressure the system empty
• Pressure testing the system for leaks
• Clean toilets
• Add antifreeze to all sink drains and traps
• Lock-off the main water line closed
• Post/identify winterized components

Our stickers advise anyone entering the property that it has been winterized, and they contain the date of the winterization and TradeMark's contact information. Whenever possible, the utilities at the property are turned off, exception-electric for sump-pump, if any. Utilities will be transferred into the client's name. All services completed during the winterization are reported to the client written and pictorial.

Cleaning efforts are an extremely important part of making the property marketable. The cleaning may include the removal of all interior and exterior debris. If the contractor encounters personal property, pictures and a summary of the content and estimated value will be communicated to the REO with recommendation for disposal or storage.

After the debris is removed and cleaning is completed, we use a detailed checklist of items that must be completed as part of the service. The baseboards, light-switch and outlet covers, light fixtures and air vents/ducts will all be wiped down and cobwebs will be removed. Any dirty, non-washable window covers will be removed as well. The bathroom and kitchen counters, cabinets, and drawers will be wiped down and the floors will be swept. Hard-surface floors will be mopped, and carpeted areas will be vacuumed. The goal is to make the property clean, and therefore attractive to prospective buyers.

Maintenance from changing a light bulb or fixture, to replacing a strike plate or handle lock set to rodding the drains puts the asset in good operating order. What takes technical skill it to inspect for and repair code violations.

TradeMark is a licensed Safe Lead RRP and our employees are trained to manage their work site using their Lead Safe Training by the book. We drill it home that we do the work as if we were being graded by an inspector.

Major rehab and repair work is performed under permit and in accordance with local building code by licensed and insured tradesmen in TradeMark's employ.

Landscaping - At the same time the REO asset is secured and protected against possible damages, we also turn our attention to the overall curb appeal and initial grooming with the initial grass cut which continues throughout the listing period.

We edge along curbs and sidewalks, to use a weed whacker along fences, foundations and walkways, and to trim shrubs as needed. Pictures are taken before and after documenting conditions of all work completed.

Curb Appeal in this real estate market is a 'Must'. Competition is as keen as it will ever be when so many opportunities present themselves to those with financial resources to benefit. Your properties will be put in top condition in order to attract prospective buyers. What you want to avoid is a poor presentation from a standpoint of curb appeal that may only attract bottom feeders and a significant loss of bargaining power resulting in 'taking what you can get'.

TradeMark will makes recommendations to accomplish curb appeal with landscaping and cosmetics. We increase the curb appeal of every property, making it 'stand out' from the competition. If you we can't get prospects in the door the property may become stigmatized to the extent that it no longer is feasible to hang onto it resulting in 'taking what you can get'.

Follow-Up Services for REO clients keep properties in marketable condition and eliminates surprises. TradeMark's responsibility does not end with the initial services. We maintain REO properties throughout the listing period, always focusing on curb appeal and marketability. Some of our ongoing services, such as lawn maintenance and refreshes, are scheduled and completed on a regular basis. Other services, including securing and de-winterization, are completed seasonally. Regardless of the service, TradeMark's goal is to ensure each property remains secure and marketable from the initial service through the final inspection.

• Landscaping
• Snow Removal
• Water Feature Maintenance
• Seasonal Winterize, De-Winterize
• Cleaning Refresh

Quality Control is critical to TradeMark's success with REO clients. We are a single point of responsibility using our own people from initial contact, assessment, initial work order through Brokerage sales and marketing to title services and legal representation by a 'real' real estate expert, receiver, instructor and seminar conductor. When we can't use our own personnel, we are using resources developed from long term relationships that benefit our clients from a cost effectiveness terms of training and commitment to learning a national fulfillment process and 'subing' is a layer of costs passed along to you the REO.

Risk Mitigation and Compliance Management assures our REO clients assets are in compliance with the ever-changing local and state regulations concerning foreclosed properties or face the risk of fines or possible litigation. TradeMark's staff know and work with state and local guidelines on default and REO properties including redemption and confirmation rights on a regular basis thereby providing peace of mind and elimination of that burden of risk.

 

TradeMark registers every property and advises our clients on the liability and risk exposure created from the properties. We are the single source of responsibility so communications take place internally for changing regulations and that properties are managed accordingly. We don't transfer responsibility, we ensure your vacant properties is cared for with our own methods.

 

We conform to local and state guidelines on trash removal, types and quality of construction materials and condition of properties to minimize impact of regulatory actions. And we take is to the limits to provide full-service toxic mold investigation, testing, written protocol, and remediation services. All mold inspection and testing services are completed by a certified Industrial Hygienist. Once lab results are returned, the Industrial Hygienist provides a detailed, written analysis of the best method for curing the mold/moisture problem.

 

Whether it's Mold, Radon or Lead, TradeMark is qualified to manage the largest, the most complex, the greatest risk or just the documentation to support the thoughtful inspection to give you peace of mind someone is thinking.

 

We will track and maintain historical records on all default and REO actions so you have a comprehensive audit trail to protect your organization.

Evications take place through TradeMark attorneys. We coordinate with TradeMark field personnel and the Sheriff's office. When the eviction has been accomplished we provide an update through attorneys and directly to the REO client office. Photo or video documentation is commonplace in this business and it may be a legal requirement with regard to eviction and conditions that sometimes are undescribable, but a picture is worth a thousand words.

Conveyance - When properties are set to be conveyed to HUD, the clients have a very short timeframe in which to ensure that the property is in convey condition. TradeMark works to have all necessary information ready for the mortgage company at their request. TradeMark field personnel are sent to the property to ensure vacancy and a date is set for the maintenance to be completed. All work completed on a convey maintenance order is submitted within 24 hours of completion to ensure immediate communication to the client.

TradeMark provides creative solution-oriented REO marketing, sales and liquidation strategies for our clients that yield superior turn times and maximum return of capital. Our goal is to generate cash recovery for our clients as quickly as possible so that their capital investment can be returned to core investment activities.

 

We support a wide range of REO marketing programs, including traditional listings, short sales, auctions and bulk sales. Our REO asset management pros manage every step of the sales process, including negotiations, closing coordination, disclosures and contract document packages for settlement. We provide complete administration of the closing process, including title curative and HUD reviews, and electronically submit detailed closing files to appropriate parties. TradeMark ensures the timely distribution of sale proceeds.