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Reo Questions

By Shayne Kilber

Real Estate Agent with West USA Realty

January 06, 2008 02:31 AM

Good morning all,

I have a couple of questions for those with REO experience and I appreciate your help.

1. When do you have the utilities turned on?

2. Do you put the utilities in your own name?

3. Is there liability in doing so?

4. Do most banks/lenders reimburse you for that and repairs?

5. Does that mean you are acting as a property manager and is there a specific license for that?

4. Do you use any of your states (Arizona in this case) standard contract forms or just the bank forms?

5. Is there liability in doing that?

6. I know some of these things have been done for a long time, just wondering if it is right/legal or not.

Thanks for your help.

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Glen A. Mitchell

Keller Williams Peninsula Estates - Half Moon Bay, CA

Broker, CDPE, Santa Cruz, Half Moon Bay,El Granada

Didn't the bank give you any guidlines? In California I have put utilities in my name, however I'm not sure of the rules. I just do what it takes to get the home sold:)

Jan 06, 2008 02:59 AM

Shayne Kilber

West USA Realty - Surprise, AZ

Realtor, CDPE, GRI, CNE, CSSN

Thanks Glen!

Jan 06, 2008 03:03 AM

Don't forget to keep track of any expenses you pay and then try to get them paid to you directly out of escrow. Like I mentioned though if you don't get paid its probably worth it for advertising expense. Probably most people that look at a house after work in the dark aren't going to get too excited about it. I noticed you use postlets on your site. I had never seen those before. How do you get the material from postlets published into your blog?? Thanks, Glen

Jan 06, 2008 10:09 AM

Reo Questions

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