| REO listing evictions are tough to handle at times. The | | | | with personal belongings, you'll have to inform your |
| good news is that many lenders are offering such high | | | | asset manager. They will in turn usually contact the |
| dollar amounts to occupants to move out that they are | | | | evictions department to start the process. The rule of |
| becoming less common. In spite of the large payouts, | | | | thumb for vacant houses with belongings is, if the value |
| there are still homeowners who feel cheated and will | | | | of the belongings is over four or five hundred dollars |
| not let go of their home easily. Or they want to take | | | | you evict them. Meaning you don't trash out the |
| as much from the lender, the way they feel, has been | | | | belongings, you have to put them in storage for a |
| taken from them. At times you will have tenants on | | | | certain period of time. If the value is below you just |
| the property, occupants who were paying their rent, on | | | | trash out the property and prepare the property for |
| time and weren't notified by the owner that the home | | | | marketing. |
| was in foreclosure. | | | | When you have an eviction situation, you'll want to |
| Whether you think the current housing issues are fair | | | | continue doing your tasks as scheduled. Meaning, |
| or not. Occupants are being removed from homes. | | | | continued occupancy inspections of the property. If |
| The most expensive and time consuming way to take | | | | you notice the occupant has moved out. Notify your |
| a home for a lender is an eviction. We've seen | | | | asset manager at once. They'll usually stop the eviction |
| evictions take as long as 7 months to complete and at | | | | and move on to preparing the home for sale. Not doing |
| times homes have damage that can't be easily | | | | this little task can cost you the listing and future |
| repaired. Lenders don't want this. For that reason they | | | | business if they find out, some how, that the property |
| offer much more to occupants to leave. | | | | has been vacant for some time and they continued to |
| When you begin your attempts to contact the | | | | invest on an eviction. Remember that at an average |
| occupants, shortly after being assigned the listing. You'll | | | | eight bpo's are ordered on a property. Don't let this |
| have to report to the asset manager the outcome of | | | | happen you you. Open communication with your asset |
| your attempts. If the occupants don't agree to a cash | | | | manager is key. |
| for keys agreement or you find the property vacant | | | | |