ACTION MANAGEMENT ASSOCIATES, Inc.®

Real Estate Management

 

MELROSE WAKEFIELD STONEHAM MALDEN EVERETT MEDFORD SAUGUS

 

REO Asset Management Service

* Property Sale Management
*Supplier Selection
*Asset Securing and Stabilization
* Property Maintenance
* Marketing Strategy Development and Implementation
* Property Repairs and Improvements
* Closing and Legal Services
* Eviction Management
* Rental Management
* Drive by (BPO) Fees

Property Sale Management:

Property sales management, including all REO services is the primary focus of
Action Management Associates, Inc.’s real estate management activities, because our
goal is a financially successful sale and closing. To give clients the best possible return,
marketable assets resulting from the build-out management and eviction management
phases are melded into our property disposition process.


Our goal is to ensure professional handling of assets to optimize future returns from
disposition strategies. To accomplish this, Action Management Associates, Inc.
REO Asset Management selects the best suppliers to meet the requirements of each
asset.

Supplier Selection:

Action Management Associates, Inc. REO Asset Management will select the best local
suppliers to fit individual demands of each asset. Law firms, abstract firms, brokers,
appraisers, inspectors, property management firms and maintenance companies can be
selected as required. We have developed performance standards for our suppliers which
they must meet or exceed in order to continue membership in our network. Their
performance ensures that assets will be handled professionally so that future returns from
disposition strategies are optimized.

Asset Securing and Stabilization:

Action Management Associates, Inc. REO Asset Management conducts a comprehensive,
on-site inspection of assets. Among our primary goals are to confirm occupancy status,
preserve the asset’s integrity and value, identify hazardous conditions and reduce
possibility liability exposure for our clients. As part of the inspection, we will secure the
asset (change locks, secure doors and windows, board up, if appropriate, padlock gates,
etc.) and stabilize conditions to avoid further deterioration. If access to the asset was
restricted previous to foreclosure, this inspection phase often provides the first
opportunity to observe its interior and exterior condition.

Property Maintenance:

Keeping an asset in marketable condition to attract potential buyers is the goal of
Action Management Associates, Inc. REO Asset Management’s ongoing maintenance
activities. When an asset becomes vacant, we begin immediate maintenance. This
typically includes securing and complete trash out, general cleaning, initial lawn
maintenance, utility set-up, monthly maintenance schedules (lawn mowing, light
cleaning, etc.) and minor repairs. To allow brokers, appraisers and inspectors to
adequately assess its value and marketability, our most immediate priority is to put the
asset in reasonably good condition.

Marketing Strategy Development and Implementation:

To determine an asset’s present and potential value, Action Management Associates, Inc.
REO Asset managers conduct an in-debt evaluation. Using documents provided by
our suppliers (broker’s price opinions, appraisals, third-party inspections), this very
selective criteria, our asset managers evaluate, and closely monitor on a monthly basis
local brokers for each specific asset.

Property Repairs and Improvements:

Developing a successful marketing plan depends on the condition of the asset. Market
factors, such as buyer profile, financing requirements and demographic information
are the key elements in deciding whether to market the asset “as-is” or “as repaired.”
To determine this, Action Management Associates, Inc. REO Asset managers
thoroughly analyze the pros and cons of capital expenditures for repairs and their impact
on sales price, inventory time and net return. We also decide the optimum time to have
repairs performed: immediately or just prior to closing. If our analysis concludes that
an asset should be repaired, we get multiple bids for the repairs from our local network
of suppliers. After a thorough review of the bids, our asset managers award the work
based on a number of factors, including completeness of bid, quality of materials to be
used, price as well as estimated start and completion times. Our on-site representatives
then closely monitor the work, manage the receipt of subcontractor invoices and
distribute payments. (Before payment is made for work, a “Repair Work Confirmation”
will be completed by our on-site representative and signed by the contractor, relieving
Action Management Associates, Inc., REO Asset Management and our clients of future
liability and liens.)

Eviction Management:

In the event that our initial due diligence inspection shows evidence of tenants at an asset,
Action Management Associates, Inc., REO Asset Management representatives will
attempt to determine our client’s right concerning rental proceeds. Upon foreclosure, we
will immediately instruct a law firm to begin the eviction process. According to local
laws, tenants will be duly notified and if necessary, the courts will be petitioned for
eviction. Along with local law enforcement officials, our representatives will coordinate
the eviction process, and be present at the eviction to secure and stabilize the asset.
However, eviction may not be necessary if it is determined that the occupied asset
would best be marketed as an income-producing property. This of course depends on
whether the tenant’s profile (rental payments history, association with original owners,
etc.) is deemed to be “good.”

Rental Management:

Because certain types of residential assets are more attractive to investors who purchase
income-producing properties that to owner-occupants or final users, it is important that
paying tenants to stay in an asset. This will allow investors to properly analyze the cash
flow of assets based upon current occupancy. Therefore, Action Management Associates,
Inc.
REO Asset Management will coordinate with tenants; collect rent, deposits and
penalty fees; initiate collection on non-payments; respond to tenant complaints and

maintenance and repair requests; administer leases and re-leases; and manage
delinquencies, evictions and tenant move-outs. We will also market assets while
they are being rented.

Drive By (BPO) Fees:

Complete drive by and full interior inspection analyses and appraisals are provided by
Action Management Associates, Inc., REO Asset Management’s Property Value
Assessment Center. Fees for these services are:

Fees per Asset Exterior, no photo $ 95.00
Exterior, with photo $100.00
Interior with photo $ 125.00
Rush BPO (less than 5 days) $ 50.00 additional

Get results. Action Management Associates, Inc., REO Asset management’s full-
service approach provides effective REO management, proven supplier performance,
reduced administrative time and controlled costs.
Put our team to work for you today.

ACTION MANAGEMENT ASSOCIATES, INC.
REO Asset Management is a company committed to the success of our
clients!

 

Telephone
781-662-4000
Postal address
403 Franklin St Melrose, MA. 02176-1837
Electronic mail AMA Mail Box
General Information: francis@askaction.com
Broker of Record: francis@askaction.com
Webmaster:
francis@askaction.com

 

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