Property Management for OREO Properties

In the real estate world, “OREO” is a banking term that means “Outside Real Estate Owned”  Banks are prohibited from owning real estate unless they get it in foreclosure.  Those banks that do have OREO portfolios need a comprehensive solution to manage them.

CAP Management can help.  First, we inspect the properties on a weekly basis.  We look outside for vandalism, graffiti, broken widows, or burned out lights.  We look inside for water intrusion, leaks, animals or break-ins.  Then we put this info on the web, complete with pictures so the Bank knows the state of the property.

We have teamed up with a Real Estate Office to market the properties, a stager to show off the properties, a cleaner to get the dust out, and we do the inspections.

While we have seen price decreases of 20-25% since the tax credit ended, properties are still moving.  We can help!

Chris Crigler, President