REO SALES
We have built a solid reputation of making the needs of Asset Managers and Banks our top priority. Customer service and uncompromising commitment to your satisfaction are the cornerstones of our success. We have brought together a stellar team of associates highly versed in all facets of the REO transaction. Our objective is to sell your properties at the highest and best price in the shortest amount of time with the least liability to you.
Sales Volume $32,550,827=150 to 238 homes annually
Sales Price to original CMA/BPO value: 93%
BPO Accuracy: 98.9% to Sales Price
Average List to close days: 47 days (based on 2008)
Average days to close: 38 days with extensive marketing plan
• Specializing in REO properties since 1983
• Comprehensive REO Services
• More than 110 Years of Combined Real Estate Sales and Residential Building Experience
• Top Producers 1988-2009
• Over 5 years experience using REOTrans, RESnet , FiServ REO
• Proficient using AVM’s
EXTENSIVE EXPERIENCE WITH LOSS MITIGATION
We are experienced in the complete REO transaction – handling everything from pre-foreclosure, deed
in lieu’s, cash for keys, marketing and closing. We follow a strict timeline to enable our client to maximize
their property and minimize their losses.
• California Association of Realtors - CAR
• National Association of Realtors - NAR
• Southland Regional Association of Realtors-SRAR
• Multiple Listing Services - THEMLS, aka CLAW; SOCAL MLS; VCRDS MLS
PANOREX TEAM
• 3 full time licensed Closing Coordinators
• Full time licensed BPO/CMA Dept Coordinator
• 6 REO Specialists
• Full time analyst
• Full time MLS Coordinator/Marketing Coordinator
• Extensive team of vendors for all property preservation work, evictions, etc.
SUPPORT VENDOR TEAM
Here at Panorex Realty we understand that in a changing market it is attention to detail and pricing that sets some REO Listing Agents apart from the competition. From the initial site inspection to the final key transfer, each listing is supervised and supported by a team of highly qualified associates, who provide the highest net dollars in the shortest amount of time to your investors.
We maintain great relationships with our vendors:
• Locksmith • Trash Out/Broom Clean • Sign Company • Landscape Company • Local Municipal Code Enforcement
• Pool Services • Handy Man • Plumber • Roof Company • Electrician • Air Conditioning/Heating • Drywall & Painting Services
• Appliance Company & Repair • Carpet Cleaning • Window, Glass, Screen Company • Flooring • Housecleaning • FHA 203K
REO SERVICES
ASSET VALUATION
• Broker Price Opinion (BPO)
• Immediate Occupancy Checks
• Precise Property Inspection & Condition Reports
• Cash for Keys
LEGAL SERVICES ASSISTANCE
• Occupant Negotiations (Cash for Keys)
PROPERTY PRESERVATION
• Secure & Re-Key
• Coordinate Trash-Out
• Utilities Transfer
• Repair oversight and winterization (as needed)
• Complete remodeling services for missing items and/or FHA 203K loans
UPDATES AND ACCOUNTING
• Weekly property inspections
• In-depth monthly status report (MSR)
• Detailed expense tracking
• Expense report reimbursement
CLOSING & SETTLEMENT COORDINATION
• Lender follow-up
• Pre-Audit HUD 1 review & analysis
• Final key transfer
MARKETING
• Full implementation of the Multiple Listing Service (MLS)
• Full-color Premium position advertising in Homes & Land Magazine and LA Times Monthly
• Extensive Internet marketing campaign attracting a consistent stream of qualified buyers
Our REO homes are aggressively marketed to investors and qualified buyers. Each distressed property is pre-bid by contractors who specialize in FHA 203K loans. This allows Buyers to visualize the true potential of the home without any cost to the Seller.
