Admin

I have been ask by many new REO agents what timelines do banks normally have?

By
Managing Real Estate Broker with ERA American Real Estate

This is a timeline that I hope everyone will find useful. This is just what I have found to be the norm. If in doubt always best to check with your asset manger unless directed to send questions to their pre marketer.

Agent Task

Deadline (from when task is opened)

Accept/Reject Listing

4 hours

Determine Occupancy/Units/PPE

1 day

Provide HOA Information

2 days

Broker Sign Off (verification initial services complete)

1 day

Checklist of Damages

2 days

Initial BPO Online

3 days

MLS Sheet/MLS Number

1 day

Marketing Description

1 day

Supply Marketing Photo

1 day

Property BPO Form (updated every 60 days)

3 days

Property BPO (Change Listing Agent)

2 days

Monthly Status Report

2 days

Supply Listing Extension

1 day

Send Signed Contracts

1 day

Accredited A-REO REO Agent Five Star Institute REO Certified Equator Certified ReoTrans Certified Certified E-Pro™ Realtor
Short Sale and Foreclosure Certified Realtor Res.Net Certified

Brandon Jordan

Posted by

Brandon Jordan, Realtor,E-PRO,ERA American Real Estate
 

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Certified E-Pro™ Realtor Short Sale and Foreclosure Certified ERA Distinctive Properties Specialist
At Home With Diversity Certified
Brandon Jordan 
Sr Vice President
ERA American Real Estate
Cell- (850)-758-1236
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Comments(2)

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Billie Hillier
http://702IsHome.com - North Las Vegas, NV
Savvy Home Realty Solutions

Great punch list for managing REOs!

Jan 23, 2011 07:53 AM
Brandon Jordan
ERA American Real Estate - Crestview, FL

Thank you, I hoped that someone would find it useful. I clicked on your AR profile nice icons 

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Jan 23, 2011 08:04 AM