Banks and Asset Managers have special needs when they are looking to sell REO properties. So, it takes a special agent to represent them  

• Legal issues arise with the title, local government, taxes, former owners, neighbors, Homeowners Associations and even the police and vandals.
• REO properties need to be secured, cleaned out, preserved and occasionally repaired and improved.
• Marketing a distressed home takes unique talent, first to sell it quickly, second to get the maximum return from the sale and third to deal with buyers and Realtors who have to understand an "AS IS" sale.
• Banks and Asset Managers have administrative needs, as regular reports, updates on  marketing & market conditions as well as details on the condition of the property need to be in their files for reports to bank representatives and investors.
• After sale issues need to be resolved without risk or liability.

Scroll down to see how our Team provides for every need.

How do you select an agent to deal with the legal issues that arise in the sale of a REO? Tim Burrell graduated in the top 10% of his class at UCLA Law School and practiced real estate lititagion with Young, Henrie & McCarthy. He has been continuously licensed as an attorney since 1973. US Bank found this to be extremely useful with the property shown in the picture, when the Homeowners Association created a large number of issues with the property. The end result was not only a successful resolution of the issues, but Tim was invited to make some comments at the annual meeting of the Homeowners Association after the sale closed. To see all of Lenders Asset Managment Corporation's letter of recommendation, click here. To confirm Tim's legal and organizational talents, contact Jackie Sadler of the Charlotte office of Brock and Scott, attorneys for Guaranty Bank, who said their closing was the easiest one she had all year, even though it closed just over two weeks after the contract was signed.

What talents do you look for to deal with all the issues that come up with the condition of the property? Early in his career, Tim Burrell ran a construction company building and remodeling hundreds of homes. Guaranty Bank found this experience useful when there was a flood in the home in this picture. When no remediation companies were immediately available, Tim ran to the property with a specialized vacuum and removed the water to stop any damage. Then, he had it professionally dried and the wet area treated to prevent mold. New carpet was put in the whole house two days later, at a cost that was much less than the bank expected. The property only missed four days on the market. Similarly, US Bank was impressed that Tim took a ripped out door and replaced it with his own hands, at no extra charge. Tim does what you have to do to get a property presentable and to close a sale on time.

What can an asset manager use to judge whether a Realtor knows how to market REOs? Tim Burrrell has been selling REO properties since 1993, a long, long time. He has sold bank owned homes in California as well as North Carolina, for a breadth of experience. Wells Fargo appreciated this ability in the sale of the home in this picture when their specialist explained "I have extensive experience dealing with loans in default and foreclosure properties and I know an excellent Realtor when I work with one. You are one of the best." To see the entire letter of recomendation, click here.  US Bank also enjoyed the fact that Tim teaches courses in negotiating when he got three buyers in a bidding war to purchase one of the homes on this page for top dollar. To read the whole story of this sale from the perspective of the Asset Manager, click here.

How does a Bank determine if an agent will properly respect the administrative requirements of BPOs, listing and selling REOs? Tim's team is shown in this picture, giving him the professional staff to provide all the reports, documents and information promptly. Tim is one of the first agents to receive the status of Certified on REOtrans.com and is in the process of being designated as Certified by RES.net. If you have access to www.USRES.com, www.RES.net, and www.REOtrans.com you can see that Tim has uniformly high marks, finishing all the tasks early, well before every deadline. His scores on www.REALtrans.com are on the top of the scale. Wells Fargo says "When I ask for information or documents, you understand what I am looking for and promptly provide it." For the entire Wells Fargo letter of recommendation, click here.

How do you determine if an agent will follow through, even after cashing the commission check? Tim has earned the recommendation from www.REObroker.com as one of the top REO Brokers in the Triangle Area of North Carolina. Email Tom Moon, Director of REOMAC and Broker with Pacific Moon Real Estate to ask him about Tim's follow through by sending an email to tom@reobroker.com. Or, you can contact Brandon Hawkes of Lenders Asset Management Corporation who invites you to contact him through www.LendersREO.com so he can recommend Tim.

This is Max, Tim's grandson, who is the inspriation for REOMAX.INFO. If you want more information, you can click here to review Tim's resume. You can ask for letters of recommendation by email to tim@TimBurrell.com. Or, you can just call Tim at 919-812-5111 and find out the special arrangments offered to Banks and Asset Managers for their first time of working with Tim's Team. Max will be glad you called.