Other Services > Receivership
We understand REO assets, and the need to be accommodating to each party's specific reporting needs.
At CPMG we have successfully served as a court appointed receiver. Lenders and debtors, as well as attorneys have found added value in that a professional with nearly twenty years of real estate asset management experience is overseeing the asset involved. The need for a receiver to have knowledge of the law and a financial background are also key to a successful receiver.
CPMG is equipped to obtain receiver bond within hours of an appointment. Immediate action is commenced to take control of the asset upon appointment. A detailed take-over report will be prepared, including cost estimates and photographs for deferred maintenance. All assets of the receivership estate are vigorously defended and cared for. To protect all parties involved, upon appointment the proper insurance overages are put in place.
Monthly accounting reports including summaries of monthly walk-troughs, tenant account receivable status reports along with report of any action taken during the receivership to ensure the best interest of the property. All actions are fully disclosed to all parties and are consistent with the order of the court.
We have worked with many lenders managing REO assets. The transaction from receivership estate to REO management is seamless. We understand REO assets and the need to accommodate each lender's specific reporting needs. We can help you to add great value for any long-term hold or quick disposition of asset.