Our Mission

To provide the most comprehensive Foreclosure Management Service to our clients by delivering the highest level of practical experience in the industry.

Company Profile

Real Estate One, Inc. is the largest broker in Michigan offering REO Management through our Foreclosure Division. Our clients include commercial banks, investment bankers, mortgage companies, and asset management companies.

Proven Process

We monitor the entire foreclosure process, from the initial order from the bank or asset management company through the sale of the property.

Planned Method

Our approach offers you a number of unique advantages. Our full range of services is designed to reduce your cost and save you time throughout the disposition process -- from foreclosure through redemption and final sale.

The benefits of working with Real Estate One's Foreclosure Division:

• Information System Management
  We maintain a database of all BPO's that have potential value. We monitor sale dates and redemption.



• Property Security
  Vacant properties are secured immediately and monitored throughout the foreclosure process to help prevent vandalism. We change locks and secure the property.



• Maintenance and Repair
  We contract all maintenance and repair to an insured contractor and monitor all work to ensure its completion and quality. We contract winterization/de-winterization of properties, snow removal, and yard maintenance, trash-out, lock-change, etc.



• Information Reporting
  We provide detailed monthly inspections and status reports. Our monthly reports include such information as the condition of the property, number of showings, a summary of offers to date, and Agents' recommendations.



• Complete Service
  We provide active assistance and representation at all title company closings. Once the property has closed, we provide final closing paperwork.

Why Clients chose to work with Real Estate One

Clients come to us for a variety of reasons. Some outsource some or all of their real estate owned portfolio to a firm they can rely on. Some lenders select Real Estate One so they can redirect their resources and focus on their primary business. Other clients come to us to reduce the costs associated with a permanent, internal staff.

No matter what the reason for selecting Real Estate One all of our clients benefit from our ability to offer REO management support, while keeping them fully informed as to the status of their properties.

Home Management Process

1: Property Evaluation process

• Inspect and secure property
• Evaluate property's condition
• Complete market analysis (BPO)
• Obtain bids for repair and maintenance

• Establish marketing strategy with pricing projections
• Accept new listings in foreclosure department or assign to branch offices.
• Establish tracking/monitoring system
• Review strategy and pricing every 30 days

• Provide you with monthly reports, properties under contract, sales, and property expenses.
• Monthly inspection reports
• Payment of property utilities

• Supervise repairs and maintenance
• Provide year-end summary reports
• Retain records for five years

• Counter, reject or accept offers within approved limits
• Coordinate closing process
• Disburse sales proceeds
• Ensure that utilities and all transfers have occurred
• Submit detailed closed file

Vendor Requirements

In order to be eligible to service our bank-owned inventory, our vendors are required to provide a valid contractor's license and proof of insurance.