The goal in maintaining an REO property (Real Estate Owned) is to minimize depreciation due to neglect and preserve the asset. 

In order to move properties out of REO portfolios as quickly as possible and maximize the sale price, properties need to maintained as best as possible.

Commerce Park provides REO Property Preservation Services to lending institutions, banks and real estate professionals.

The process starts with an initial inspection to determine the current status of the property. This is followed by formulating a list of priority items which need to be addressed in order to stabilize and secure the property. After stabilization, routine maintenance can be provided as required.

REO Property Preservation Services

Inspections:

• Damage and Code Compliance Assessment
• Initial Foreclosure Inspection
• Occupancy Inspection
• Drive-By Inspection
• Interior Inspection
• Monthly & Weekly Inspections
• Damage Assessment

Securing:

• Boarding
• Lock Changes, Lock-Outs, Padlocking
• Lawn Maintenance
• Debris Removal
• Hazardous Pools Pumped Out & Boarded
• Screen Enclosures Secured
• Roofs Tarped,  Repaired or Replaced

Maintenance Services:

• Lawn Maintenance, either Weekly or Bi-Weekly
• Tree Removal Services & Tree Trimming Services
• Pressure Washing

Higher value properties may warrant additional expenditures such as painting, minor repairs, updated fixtures and lighting, new flooring and carpets. These expenditures may yield additional returns from a buyer willing to pay more for a home that is "move-in" ready.

Call Commerce Park today or use our Contact Us form to provide you with the essential services needed to maintain your REO portfolio.