In a difficult market with an unprecedented number of foreclosures, Banks, Lenders and REO Agents are struggling to ready and maintain properties for sale. Marquis alleviates this burden by managing inventory on behalf of the financial institution in order to manage risk and achieve maximum recovery.
The Initial Determination Inspection
You don't know what you don't know. When Bankers, Lenders and other financial institutions find themselves with unexpected property, they turn to The Marquis Group to assess the situation quickly and accurately, and provide the details they need to take the next step.
- Inspect the property with care and attention to detail
- Conduct a comprehensive inventory
- Provide a formal report of findings with make-ready suggestions
Ongoing Inspections and Maintenance
In addition to initial inspection and report, The Marquis Group will provide ongoing inspections and maintenance to ensure that the property is ready for show and sale. In addition, for security reasons, it is important the property not appear vacant for long periods of time. This regular service provides that additional peace of mind while the property is on the market.
- Check all electrical and plumbing
- Check all HVAC functions
- Adjust thermostat according to season
- Check and replace burned-out or broken light bulbs
- Open windows to ventilate
- “Run” the water – showers, tubs, sinks, flush toilets
- Check and test the security system, if applicable
- Manage landscape maintenance; coordinate with contractors
- Manage cleaning; coordinate with cleaning service
- Manage amenity care, if applicable, including pool, spa, rec areas and courtyards
- Ensure property is upkept, clean and ready for showing
Emergency Services
In the event of an emergency, The Marquis Group will be first contacted, first on the scene to coordinate emergency service (plumbing, electrical, security system, etc.), and we will ensure the situation is remedied quickly and to our client's satisfaction.
Warranty Tracking and Management
When a foreclosure occurs within the typical 12 month warranty period (or other applicable warranty period), Marquis will manage and maintain the property to meet warranty requirements.
- Manage the warranty process/requirements; maintain the property until sold or until the warranty period expires
- Ongoing inspections and maintenance, as detailed above
- Effectively track through to completion
