Welcome to First United Realty REO Department

In our department we specialise in managing and marketing bank and corporate owned properties in Greater Atlanta and all surrounding counties. Our staff contains only the most experienced and highly trained individuals who understand the many complications and processes involved in dealing with this aspect of real estate industry. We value our reputation for quality service and customer satisfaction in the marketplace and treat each and every asset handled by our clients as if it was their own home.

We invite you to contact us with any of your Real Estate needs and questions and look forward to providing you with the best and most professiona REO services.

Fyodor Goroshin
Chief of REO Dept.
First United Realty, Inc
404-509-1110
reo@firstunitedrealty.net 

 

 

PLAN OF ACTION

 

 

                                               Listing Services:

 

• Occupancy check 
  Initial drive-by inspection and occupancy status report will be completed within 24 hours of request.
  
  
• Eviction Assistance/Cash for Keys  
  If the property is found to be occupied, our department can initiate, oversee, and complete an eviction process under the supervision of local law enforcement, or offer and negotiate a Cash for Keys settlement.       
       
• Property re-keying       
  Vacant properties will be re-keyed and secured within 48 hours of confirmation of vacancy.
  
  
• Complete Broker Price Opinion
  Full interior BPO will be prepared by an experienced, licensed professional on REO's standard form, Fannie Mae, Freddie Mac or on your company's form. Our usual turnaround time is 12-48 hours.
  
  
• Arrange for trash removal, cleaning, and lawn care
  Trash-out includes a thorough cleaning on interior/exterior plus initial yard maintenance. It will be handled by experienced REO contractors.
  
  
• Initiate Utility
  We understand and accept responsibility for establishing utilities and paying all vendors on a timely basis.
  
  
• Arrange to winterize property (when needed)
  All REO's are winterized between 10/1 and 4/15. We use qualified and experienced contractors to winterize.
  
  
• Suggest appropriate repairs and/or renovations
  Repairs can be as simple as a broken window, or as complex of structural and geological damages. Permits will be obtained when necessary.
  
  
• Obtain bids for repair or renovation
  Our office has an extensive list of accredited vendors to do property repairs, lock-change, yard  maintenance, trash-outs, rehabs, etc. All bids are always personally ordered by our agents.
  
  
• Discuss potential marketing strategies/positioning with Lender
  We promise to create and provide you with the best marketing plan available. Including but not limited t immediate exposure, photograph the best property features, direct mail, e-mail, brokers and online exposure. We post our listings on numerous web sites including Realtor.com, Homes.com, Craigslists.com, and Homeseekers.com.
  
  
• Place in Regional MLS & provide written verification
  The property will be listed for sale and placed into two local MLS services within 24 hours of receipt of the executed agreement.
  
  
• Install Lock Box and For Sale sign on property
  Install a professional sign in front of the home for maximum exposure. Install a combination and electronic lock boxes for easy showing by all cooperative sales agents and contractors access.
  
  
• Follow up all showings for buyer feedback
  We immediately follow up with every agent that shows the property and advise you of their buyer's comments and any recommendations received that will increase the marketability.
  
  
• Supervise repairs and advise when completed
  Our department supervise and inspect all approved repairs and improvements prior to payment.
  
  
• Monitor home for security, cleanliness and lawn care and complete status reports.
  We regularly check your REO properties and provide you with a full REO Status Report each month or as required.
  
  
• Update BPO as requested
  We provide an updated BPO to support any new pricing strategies.
  
  
• Handle all emergency repairs or situation
  Our department has two full time rapid response vehicles with two-way radio communications ready for any emergencies or requests.
  
  
• Pre-qualify potential buyer's ability to secure financing
  We don’t like to waste our client’s valuable time. We will make sure potential buyers have the resources and motivation to close the deal.

 

                                             Sale and Closing Services:

 

• Advise REO department of all offer
  Every offer received will be carefully reviewed and presented for your consideration.
  
  
• Arrange for and monitor loan processing
  We oversee the loan approval process to be sure your transaction closes on time.
  
  
• Inform lender of appraisal requirements 
  Our staff contains professional real estate appraisers who will coordinate and supervise the appraisal process to ensure the proper value.
  
  
• Monitor all contingencies in agreement
  We monitor the status and satisfaction of all contract contingencies and assist you in any further  negotiations with the buyer.
  
  
• Report any problems immediately
  It is our commitment to maintain a high level of communication with our clients. We will inform you immediately of any problems during the transaction.
  
  
• Advise REO department when closing is scheduled
  We schedule and coordinate the closing process with clients, attorneys and escrow officers to ensure a smooth and seamless transaction.
  
  
• Send HUD-1 via Fax or e-mail 
  We will review and approve the HUD-1. In order to provide you with the best representation possible, all of the legal aspects of your closing will be handled by our in-house state licensed and insured attorney.