REO (Bank owned)

The HAMM Team lists and sells REO listings.  REO listings are owned by the bank because of a foreclosure.  As opposed to the short sale listing, the REO listing usually is easier and faster for the buyer.  This is due to less parties involved in the transaction.  Often with a short sale, there may be multiple lien holders, a tenant or homeowner in default.  With an REO listing, all of those issues are eliminated after the foreclosure process completes.

B2B.  For the real estate brokerage, the REO listing and selling process presents some small differences that are easily overcome with our experience in sales.  As soon as we get a new listing, we always have a person visit the property – usually the same day or within 24 hours.  We have an in-house sign installation process specifically for REO’s.  In one step, we get the sign and lockboxes installed.  In the same visit, we post the No Trespassing and other required postings.  Getting a new property listing from a bank client often means getting a person to the home quickly.   We also understand the importance of giving the preferred lender a priority opportunity and our team does a great job at selling the preferred lender.

New and different contracts and understanding the legal language is never a problem with The HAMM Team.  Our clients always feel confident with our competence.