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ACTION MANAGEMENT ASSOCIATES, Inc.®
Real Estate Management
MELROSE WAKEFIELD STONEHAM MALDEN EVERETT MEDFORD SAUGUS
REO Asset Management Service
* Property Sale Management
*Supplier Selection
*Asset Securing and Stabilization
* Property Maintenance
* Marketing Strategy Development and Implementation
* Property Repairs and Improvements
* Closing and Legal Services
* Eviction Management
* Rental Management
* Drive by (BPO) Fees
Property Sale Management:
Property sales management, including all REO services is the primary
focus of
Action Management Associates, Inc.’s real estate
management activities, because our
goal is a financially successful sale and closing. To give clients the
best possible return,
marketable assets resulting from the build-out management and eviction
management
phases are melded into our property disposition process.
Our goal is to ensure professional handling of assets to optimize
future returns from
disposition strategies. To accomplish this, Action Management
Associates, Inc.
REO Asset Management selects the best suppliers to meet the
requirements of each
asset.
Supplier Selection:
Action Management Associates, Inc. REO Asset Management will
select the best local
suppliers to fit individual demands of each asset. Law firms, abstract
firms, brokers,
appraisers, inspectors, property management firms and maintenance
companies can be
selected as required. We have developed performance standards for our
suppliers which
they must meet or exceed in order to continue membership in our
network. Their
performance ensures that assets will be handled professionally so that
future returns from
disposition strategies are optimized.
Asset Securing and Stabilization:
Action Management Associates, Inc. REO Asset Management
conducts a comprehensive,
on-site inspection of assets. Among our primary goals are to confirm
occupancy status,
preserve the asset’s integrity and value, identify hazardous
conditions and reduce
possibility liability exposure for our clients. As part of the
inspection, we will secure the
asset (change locks, secure doors and windows, board up, if
appropriate, padlock gates,
etc.) and stabilize conditions to avoid further deterioration. If
access to the asset was
restricted previous to foreclosure, this inspection phase often
provides the first
opportunity to observe its interior and exterior condition.
Property Maintenance:
Keeping an asset in marketable condition to attract potential buyers is
the goal of
Action Management Associates, Inc. REO Asset Management’s
ongoing maintenance
activities. When an asset becomes vacant, we begin immediate
maintenance. This
typically includes securing and complete trash out, general cleaning,
initial lawn
maintenance, utility set-up, monthly maintenance schedules (lawn
mowing, light
cleaning, etc.) and minor repairs. To allow brokers, appraisers and
inspectors to
adequately assess its value and marketability, our most immediate
priority is to put the
asset in reasonably good condition.
Marketing Strategy Development and Implementation:
To determine an asset’s present and potential value, Action
Management Associates, Inc.
REO Asset managers conduct an in-debt evaluation. Using documents
provided by
our suppliers (broker’s price opinions, appraisals, third-party
inspections), this very
selective criteria, our asset managers evaluate, and closely monitor on
a monthly basis
local brokers for each specific asset.
Property Repairs and Improvements:
Developing a successful marketing plan depends on the condition of the
asset. Market
factors, such as buyer profile, financing requirements and demographic
information
are the key elements in deciding whether to market the asset
“as-is” or “as repaired.”
To determine this, Action Management Associates, Inc. REO
Asset managers
thoroughly analyze the pros and cons of capital expenditures for
repairs and their impact
on sales price, inventory time and net return. We also decide the
optimum time to have
repairs performed: immediately or just prior to closing. If our
analysis concludes that
an asset should be repaired, we get multiple bids for the repairs from
our local network
of suppliers. After a thorough review of the bids, our asset managers
award the work
based on a number of factors, including completeness of bid, quality of
materials to be
used, price as well as estimated start and completion times. Our
on-site representatives
then closely monitor the work, manage the receipt of subcontractor
invoices and
distribute payments. (Before payment is made for work, a “Repair
Work Confirmation”
will be completed by our on-site representative and signed by the
contractor, relieving
Action Management Associates, Inc., REO Asset Management and our
clients of future
liability and liens.)
Eviction Management:
In the event that our initial due diligence inspection shows evidence
of tenants at an asset,
Action Management Associates, Inc., REO Asset Management
representatives will
attempt to determine our client’s right concerning rental
proceeds. Upon foreclosure, we
will immediately instruct a law firm to begin the eviction process.
According to local
laws, tenants will be duly notified and if necessary, the courts will
be petitioned for
eviction. Along with local law enforcement officials, our
representatives will coordinate
the eviction process, and be present at the eviction to secure and
stabilize the asset.
However, eviction may not be necessary if it is determined that the
occupied asset
would best be marketed as an income-producing property. This of course
depends on
whether the tenant’s profile (rental payments history, association
with original owners,
etc.) is deemed to be “good.”
Rental Management:
Because certain types of residential assets are more attractive to
investors who purchase
income-producing properties that to owner-occupants or final users, it
is important that
paying tenants to stay in an asset. This will allow investors to
properly analyze the cash
flow of assets based upon current occupancy. Therefore, Action
Management Associates,
Inc. REO Asset Management will coordinate with tenants; collect
rent, deposits and
penalty fees; initiate collection on non-payments; respond to tenant
complaints and
maintenance and repair requests; administer leases and re-leases; and
manage
delinquencies, evictions and tenant move-outs. We will also market
assets while
they are being rented.
Drive By (BPO) Fees:
Complete drive by and full interior inspection analyses and appraisals
are provided by
Action Management Associates, Inc., REO Asset
Management’s Property Value
Assessment Center. Fees for these services are:
Fees per Asset Exterior, no
photo $ 95.00
Exterior, with photo $100.00
Interior with photo $ 125.00
Rush BPO (less than 5 days) $ 50.00 additional
Get results. Action Management Associates, Inc., REO Asset
management’s full-
service approach provides effective REO management, proven supplier
performance,
reduced administrative time and controlled costs.
Put our team to work for you today.
ACTION MANAGEMENT ASSOCIATES, INC.
REO Asset Management is a company committed to the success of our
clients!
