When a property fails to sell at an auction, it becomes the lenders property, otherwise known as real estate owned (REO). In today’s economy many banks and other lenders have extensive portfolios of REO properties that they need to sell. This can include residential and commercial properties. An REO closing occurs when these banks and lenders resell properties following foreclosure and auctions.
It is important for lenders to have expert legal counsel when dealing with REO closings so that unforeseen circumstances and delays can be avoided. Richard B. Maner, P.C. will facilitate sales of REO properties. Our knowledgeable firm offers cradle to grave services for closing as well as working with lenders to address legal issues involving REO properties.
REO Closing Services
There are many procedures that involve investigative work and authenticating documents and records to ensure timely REO closings. Our firm also ensures that other parties involved in transactions are completing their tasks to further avoid delays. Our goal is to close assets on time and hassle free, in order to achieve this we offer a variety of services in relation to closing including:
- Corresponding with the buyer’s lender
- Corresponding with the buyer’s attorney
- Reviewing titles
- Title clearance
- Title curative
- Negotiation and review of contracts
- Preparing all necessary documents for a timely closing
- Table funding
- Delivery of wire to seller
- Obtaining payoffs for any liens or judgements
- Representation at closing
Through our in-depth preliminary work, we help our clients identify and resolve any issues well before closing. We work closely with our clients and ensure that your sale agreement terms properly protect your interests. By providing a seamless and positive experience to both our clients and investors, we encourage future sales and closings through your company. Our firm closes properties consistently without delay.
Contact an REO Closing Attorney
REO closings can be complicated and frustrating, especially to our lenders with substantial inventories. Receive counsel and representation from Richard B. Maner, P.C. for cost efficient and timely REO closings.
To contact us send an email or call our office at (404) 252-6385. To send a message visit our online contact form.