We are constantly amazed by the number of REO properties that are simply dropped into the MLS systems with limited information, limited marketing, and limiting efforts to help Banks and Asset Managers realize the maximum returns on their assets. We realized early on that an opportunity existed to create an organization that is much more than simply an REO listing vehicle. We believe that REO properties should be engaged with the same level of care and attention as if we were selling our own property. Foster Spahr REO was created in 2011 with the goal of creating lasting, mutual beneficial partnerships with the banks and asset managers we work with.
With a strong balance sheet, investments in the latest technologies and REO software, and strong partnerships throughout the industry, we are confident in our ability to deliver a full turn-key solution to our REO partners. Our goal is not simply to help you realize your investment in the shortest amount of time but also to maximize your returns.
Asset Management Solutions
- Professional Detailed Valuation Services: Appraisals and BPO’s
- Cost/Benefit analysis to determine the level of repairs that will maximize the net ROI
- Make recommendations on whether the home should be sold in “as is” condition or repaired condition
- Manage contracting for repairs, invoicing, and payments through a strong network of fully licensed and experienced local contractors
- Thoroughly qualify buyers
- Strong communication
- Strict adherence to our partners’ requirements and procedures
- REO Maestro software for tracking, reporting, and communication
- Accessible 24/7
All of our contracted property preservation is done with our local contacts, and reports come to you complete with before and after pictures, time stamped to enable the bank’s asset managers to keep their files in order.
We handle all types of issues, including:
- Cash for keys
- Maid Cleaning Service
- Curb appeal recommendations
- Snow removal*
- Weekly drive-by’s
* As appropriate
Our goal is to keep the REO property in the best condition possible to get the property sold in the shortest amount of time while maximizing your ROI. We make sure your property is ready for inspection with little or no notice!
All of our brokers price opinions are completed utilizing the latest project management and comparative analysis tools. Our knowledge of the local areas that we serve, and our long term knowledge in pricing REO properties ensure that you will get the best and most knowledgeable price opinion available, short of doing a full appraisal of the respective property.
We report on your website or through direct emails to the asset managers, utilizing Multi Forms™ ensures that we cover all of the professionally required areas for a solid and consistent BPO. All of our photographs come with a digital time stamp, consistent with the timeframe that is requested.