With the increase in properties returning to the market because of foreclosure actions, settlements, deeds in lieu and the failure of banks and other financial institutions, Alpha Title & Closing has experienced an increase in the demand for our Owned Real Estate (ORE) Property Marketing services which include:
Assist in the Acquisition Stage – When ORE properties are acquired at the failure of a financial institution, Alpha Title & Closing can assist in the development of a plan to manage ORE prior to bank closing as well as attend the closing of the financial institution to inventory and gain control of ORE and other owned assets.
Research Potential ORE Properties – Alpha Title & Closing provides excellent customer service to the public by promptly conducting research on properties, in response to inquiries from investors or taxing jurisdictions, to determine ownership including researching public records. Alpha Title performs forensic title examinations on all properties to assure there are no defects and it is 100 percent marketable.
Prepare ORE Property for Marketing – Alpha Title & Closing can obtain valuations (appraisals as well as broker’s price opinions), title work, insurance and environmental assessments in order to prepare the ORE property for marketing. As some assets may be unmarketable at the time of acquisition, Alpha Title & Closing will cure title defects, obtain pertinent documentation and secure the necessary repairs to make the property marketable.
Market, Sell & Close – Once a property is deemed marketable, Alpha Title & Closing can expose the ORE properties to the broadest market possible, and negotiate and dispose of the ORE properties at the highest return possible within a reasonable period of time.
Manage ORE Properties – While the property is being marketed, Alpha Title & Closing can secure and manage the ORE in a manner that will minimize losses, maximize recoveries and mitigate liability to the acquiring financial or insurance institution.