Phase I- Assignment of Property
Accept assignment by returning listing agreement or assignment letter and/or referral agreement to asset manager or finder (whomever assigned the property)
Add assignment to agent’s database
Coordinate occupancy check
Occupancy status report
Determine if HOA
If not, upload No HOA form (Chase/WAMU)
If so, contact HOA (or management company) to obtain as much information as possible (complete VA created HOA form, request W9)
Complete and upload HOA form (Chase/WAMU)
Complete HOA task on AM’s website
If Occupied….
Coordinate weekly occupancy checks and reports every 7 days
Remind agent to offer CFK
Notify AM of acceptance or denial of CFK
Perform exterior Broker Price Opinion
If denied….
Bank proceeds with legal eviction, agent performs weekly occupancy status checks
If accepted….
Returns signed CFK agreement to AM
Agent delivers CFK upon final inspection
If Vacant and/or after eviction
Notify Bank of Vacancy
Order Re-key
Add lock box and set code
Secure Property-board up etc.
Inform AM of any safety hazards or known citations/liens
Obtain bids for any safety hazards that need repaired
Send bids for safety hazard to AM and request approval
When approval is received, have safety hazards repaired
Switch utilities to agent/Turn on utilities
Secure pool, if applicable
Obtain bids for trash out/repairs and submit to AM
Perform Interior Broker Price Opinion (BPO)
If applicable, contact HOA and follow up on W9 previously requested, obtain a super lien invoice (if super lien state) or ledger.
Submit HOA documents to AM
Phase II-Listing Property & Marketing
Right to Sell signed and returned to bank
Create addendums
Send agreements and addendums to brokerage office
Enter into MLS
Send MLS to bank’s AM (upload or email)
Order photos/virtual tour
Add to agent website(s)
Post to all online real estate marketplaces/websites
Optimize Realtor.com if applicable
Order sign up and send confirmation to bank
Upload photos/virtual tour to MLS
Upload photos/virtual tour to all online marketplaces/websites
Create listing flyers, v-tour, just listed postcard
Import listing into showing feedback system
Record IVR 800# property extension
Monthly marketing reports
BPO every 60 days if still on market
Price Changes
Addendum to Right to Sell signed and returned to bank
Change MLS
Send revised MLS to bank’s AM (upload or email)
Update agent’s database
Change price adjustment on agent website(s)
Change price on all real estate marketplaces/websites
Change flyers, v-tour
Re-record IVR 800# property extension
Phase III-Contract/Accepted Offer
Verify all documents needed are in order (copy of EM, contract, lender letter)
Upload/submit offer to bank
Change status to AWC-I after offer submitted to bank
Received all fully executed contracts and addendums-upload/email to bank
Enter in buyer and buyer’s agent info
Change status to pending in MLS after accepted offer
If no lender letter, request conditional loan approval from lender
Request Earnest Money Receipt from Title Company/Attorney and send to AM if not done prior
HOA Addendum (if applicable), Agency Disclosures, AS-IS Addendum (if applicable) fully executed and sent to broker
Prepare commission instructions and fax to title/attorney
Add all parties to client’s database
Arrange final walk-thru if applicable
Verify all title work is complete
Confirm and inform all parties of date/time of closing
Request pre-audit for review
Phase IV-Post Closing
Verify closing is funded
Send confirmation of successful close to AM with necessary docs
Order sign to be removed
Remind agent to remove lock box
Turn off utilities
Change status to sold in MLS
Send Thank You letter/card/email to Buyer’s Agent