NEVER SAY NEVER
Atlanta Metro ODAT Realty CDPE Advanced Buy/Lease/Sell
Buckhead Atlanta GA

I admit it. I said, "I will "never" have anything to praise BofA about in my entire life!"  OK - admission over. Here is the praise. On December 20, 2011 - Bank of America issued a ruling that will benefit homeowners, condo complexes and even whole neighborhoods.

OUCH - saying good things about them hurts! But fair is fair..

In Atlanta Metro area, ODAT Realty Services, Inc. manages individual units for out-of-area condo and home owners. Over the years we have had wonderful clients from Hawaii to South Carolina and New York to Alabama. While these units are for lease not listed for sale, the Forclosure signs are a detrimental element. The decrepit condition of a Foreclosed property can hurt the others in the same building and eventually have a negative effect the entire complex.

Foreclosure units with mega signs in the windows announcing their status are a real problem to any community. In a neighborhood or sub-division, the signage is an invitation to thieves to strip the home of appliances and metal pipes. Although the signage is still required by other Foreclosure monster-sized entities, a step in the right direction - towards responsible behavior - is still a step in the right direction. 

The praise: See the announcement below.
Have a happy day -
Lynn

Dec. 20, 2011 REO Agent Update

Remove Signs Referring to REO Properties

To discourage trespassing, squatting and vandalism, effective immediately, Bank of America prohibits the use of signs or sign riders that include, but are not limited to, the following words and phrases:  

• Foreclosure
• Bank Owned
• REO
• Vacant  

Note: This prohibition is strictly for large signs and does not include notices or postings on the actual properties. Examples of notices that must remain on the property are Vacancy Postings, Post & Store notices, property registrations, violations and any other required notices. 

Action required   

• DO NOT post any sign that suggests a property is vacant and/or owned by someone other than an individual. Bank of America is sending out property inspectors to ensure you are in compliance with this directive. To avoid negatively impacting your personalized REO scorecard, please be sure you comply with this order immediately.  
• DO NOT use or reference the terms above (excluding "vacant") in the MLS, as allowed per your local MLS guidelines.  
• DO delete any of the above terms currently published (excluding "vacant") in the MLS, as allowed per your local MLS guidelines.  

Reminder  

Due to recent increases in trespassing on our vacant properties by squatters across the United States, our agents must take additional precautions on all Bank of America REO properties.  

As an approved Bank of America REO agent, you are asked to proactively manage our properties to ensure they are secure and to prevent any damage.  

Immediate action required

1. Review your Equator profile for all Bank of America-assigned properties.  
2. Visit those properties within the next 24 hours to confirm they are secure .
3. Notify your asset manager via Equator that the properties have been viewed and secured.  
4. Report any properties that have suspicious activity or recent damage.  
5. Check properties weekly until we notify you otherwise.  
6. Immediately present any concerns regarding damages to your asset manager via Equator for review.  

Our agents' safety is a top priority. If you feel you are in danger while at a property, leave and call the police, if necessary.  

We appreciate the attention to detail that you continue to provide on all Bank of America properties.