REO Property Management
NFR provides REO property management, property preservation and maintenance services in all 50 states. We ensure bank and investor owned properties are being maintained, cleaned, and restored to their original or conveyance state following bankruptcy or foreclosure. Our REO property preservation services include lawn care, pool maintenance and debris removal for a property’s exterior, as well as janitorial services, winterization, and emergency repairs on the property interior, as required by local jurisdiction and GSE/Servicer/Investor guidelines. In the event a property needs rehabilitation or repair, our professional REO property management team will restore the property at the request of the servicer. In addition, NFR provides eviction management services.
Our REO Property Management Services Include:
NFR will secure REO owned properties from theft, damage, vandalism, and squatters following the foreclosure of a property.
Our REO property management team will maintain the homes lawn and yard on behalf of the servicer. Services include mowing, landscaping, weeding, edging, trimming, and sweeping of paved areas like driveways, sidewalks, and patios. Circumstantial debris such as hedge and lean trimmings will be removed in compliance with local jurisdiction and municipality code requirements.
Janitorial / Remediation Services
NFR’s will assist lenders and loan servicers following bankruptcy or foreclosure. Our REO property preservation team will provision deep cleaning, window washing, floor wash and wax, stripping or polishing of the property as needed.
REO properties often require debris removal to keep the property in optimal condition. Trash, furniture and garbage will be removed from the property and properly discarded.
REO property management include repairs, rehabilitation and maintenance of the property and are performed using competitive materials. Repairs will be made following servicer specifications and the property will be restored to a marketable condition.
REO Property Preservation
NFR will provide REP property preservation and maintenance in compliance with investor conveyance standards to ensure title, occupancy and property conveyance conditions and regulations are met.
NFR’s rehabilitation services including repair, alterations, and additions to an REO property while preserving the properties aesthetic and/or historical character.
Emergency property maintenance services to lessen risk and protect the property as well as the lender investment. Our REO property management team will address the general welfare and safety hazards on an REO property, to include toxic materials, vandalism, water damage, plumbing issues, pool maintenance and electrical hazards.
NFR will winterize a property that is expected to be vacant during the cold season or throughout the year depending on lender and loan servicer requirements. Winterization services include maintaining the plumbing and associated system components to prevent freeze and/or damages. NFR will also perform De-Winterization services when requested.
Ensure your property’s pool and its components are well-maintained and marketable. NFR will provide pool maintenance on a weekly or monthly basis to include start-up, chemical treating, draining, acid washing, filling and ongoing service. The pool and nearby premises will be secured to discourage unauthorized parties from entering the pool area.
Smoke Detector, Carbon Monoxide Detector Installation
NFR will install, inspect or maintain smoke detectors and carbon monoxide detectors per local code requirements.
Water Heater Strap Installation
Securing an REO property includes the installation or maintenance of water heater straps. Water heater strapping is generally a compliance mandate made by local jurisdiction.
REO Eviction Management
When occupants are evicted, our REO property preservation team will support the eviction by working with local authorities to complete the lock-out process. We will remove any debris left-behind by the occupants and secure the property per the specifications outlined by state and local jurisdiction.
Hazard Claims/Insurance Claims Repairs
NFR has a specially trained REO management team, dedicated to dealing with damaged property hazard repairs when accidents or natural disasters occur. The team is familiar with the details, materials and time needed for extensive repairs to properties.