NOVA Real Estate Services

Setting Your Price and Launching Your REO Asset on the Market

The activities prior to listing are absolutely critical to the successful sale of your REO property. This is where we price it right to sell, increase the perceived value of your REO asset in the marketplace, and create the sales tools to launch your REO asset on the marketplace.

TThe Star is at the center of the NOVA logo for a reason: everything we do is all about you--the client. To help you sell your REO Property at an accurate market price, in the least amount of time, with the fewest hassles.

Prior to Sale Foreclosure Sale Date

Drive by BPO w/exterior photos

After REO Property Assignment to NOVA

Determine occupancy (tenant, previous mortgagor, etc)
Negotiate “cash for keys”
Contact HOA
Coordinate eviction

20-Point “REO Make-over”

Turn utilities on
Coordinate trash out and clean up
Coordinate personal property eviction / release (as needed)
Assign yard maintenance
Create a comprehensive BPO within 24 hours of obtaining vacant possession, including detailed photos
Take photos of damage for insurance
Determine scope of work for repairs prior to listing
Install smoke detectors and water heater straps (as needed)
Obtain contractor bids for repairs
Agree on listing price with REO Asset Manager, based on:
Pre-Inspection Evaluation of the Property and Repairs Needed
Broker Price Opinion (BPO)
Agree of scope of Star Treatment “REO Make-over” to increase perceived value of the REO property
Take professional marketing photos of the REO property after the “REO make-over,” highlighting key features
Create the Basic 5 Marketing Tools:
Flyer
MLS Listing
Sign
Lockbox
Property Web Site with Photo Gallery