Premiere Asset Services (PAS) is an industry leading third party REO (Real Estate owned property) Property Preserviation outsourcer and evaluation service provider operating at scale and on a nationwide basis. It is important to inspect the property that one intends to buy.
For property preservation with Premiere Asset Services involvement, below are a few mentioned steps-
Formally establish the property preservation company. Although not typically a requirement, to be taken seriously by a large bank, a property preservation company should have a formal structure. As a standard requirement the company must hold a simple liability insurance policy with the appropriate licensing to conduct operations in their respective physical area.
Networking is important. The key is to build a presence online which is both professional in expression and strategic. A key component of marketing a new property preservation company is developing a professional website. You can discover competitors in your marketplace by performing a search on any search engine online. Thus, it is important to differentiate yourself from the field by highlighting competitive advantages, such as existing business relationships, depth of professional experience, geographic location or specialized property preservation capabilities.
Apply to the REO department of major banks. To be hired as a property preservation company, the managers must first organise summaries of their business which get submitted to the Real Estate Owned department with the leading industry banks to seek permission for proposal (RFP’s). Lenders or brokers all have their own avenues to procure finance, but a strategic job application on contract will require you to gain the attention of the top brass who makes the decisions in this field.
Act on a preservation contract immediately. Should you be contacted by a banking institution who are replying to a proposal, or they locate your company site online, this will allow you to undertake their offer of a contract immediately. What this will entail is possessing the assets which are established and resources from others already ahead of time. With the amount of competition in the market for property preservation companies, if you are unable to meet a bank’s immediate needs, you may not get a second chance.
Property preservation corporations allow certain resources related to cleaners and maintenance services by the lending parties for properties which have been marked for forclosure. Given that banks generally do not associate with the property management industries, they along with Premiere Asset Services outsource their related responsibilities to various property preservation companies. Due to the number of foreclosed properties on the market, there is an increasing number of property preservation companies meeting the ensuing requirements by banks for such services.
With over 40,000 REO properties under management, Premiere Asset Services offers scale, financial strength, experienced and tenured REO professionals and industry leading technology necessary to tackle any REO portfolio. However it is important to remember that REO/ Real Estate owned properties of Wells Fargo are those 1 to 4 unit foreclosed houses that have failed to sell at auctions and are now held by lenders. By taking assistance provided by Wells Fargo and its Premiere Asset Services, these lenders can sell their possessions since they are now the owners of that asset. Also known as Wells Fargo bank- owned properties or homes for sale, their sale process is handled by PAS with the active participation of listing agents.
