REO Service Solutions

GARY A. GARZA, INC.

REO ASSET SERVICES

 

REO Management

At GARY A. GARZA, INC., our diversity is our strength.  Our professional team manages, directs and coordinates all facets of the REO property process.  Field services personnel are able to perform any requested superintendence, preservation and maintenance function within our operational area in a timely fashion.  We understand the importance of placing properties in market-ready condition quickly with a “can-do” mentality.  Service staff focuses their attention on the facilitation of market placement, while ensuring quality workmanship, preservation, and continued maintenance until a sale is completed.  We provide continual client interaction and reporting throughout all phases of the REO process.  Solve problems before they occur.  And, do whatever it takes to deliver on our promises — even when dealing with problems outside of our control.  Some call it “going the extra mile.”  But at GARY A. GARZA, INC., it’s simply “business as usual.”


Valuation & Due Diligence

Our valuation and due diligence inspections provide accurate and timely information regarding property condition.  We provide an extensive exterior and interior inspection to augment the valuation of any enhancement and refurbishment work in support of functional or perceived obsolescence.  Our ultimate goal is to furnish a comprehensive assessment of value, providing the following:


  1. •  “As-is” Fair Market Valuation

  2. •  Refurbishment Costs and Valuation

  3. •  Refurbished Fair Market Valuation


Refurbishment cost valuation provides a detailed budget for all work required in the following categories:  Building & Exterior Finish; Roofing; Code Violations; Building Interior & Finish; Appliances; Pool Service; Window Coverings; Flooring; Landscape Services; Cleaning; and Pest Control.


Marketing & Brokerage

Our goal -- to sell the property in the least amount of time at the best and highest price to increase the overall recovery value.  Our staff will implement a strategy reflective of the marketing analysis.  Our team-oriented sales approach, utilizing internal resources and external affiliates, when needed, enable us to provide superior returns to our clients.  Sales and marketing personnel, with our maintenance and construction staff, work together to facilitate quick market placement for purchase.  Familiarity with foreclosure properties indicates that the majority of these assets will not be in a condition for immediate resale.  Varying levels of refurbishment will be required.  The resale of the property, after completion of any work, will be based on refurbished value -- a more consistent and higher valuation.  This negates the “fire-sale” mentality in favor of market stability and higher profitability thus a greater return against the book-value.  The differential between the refurbished value and “as-is” value may range as high as 30%, or more!  The bottom-line -- buyers will associate our product with enhanced quality and value-added affordability.


Renovation & Construction

Our value-added refurbishment, renovating and remodeling approach will result in a greater return than “cost-to-cure” expenditures.  Our renovation and construction team work hard to facilitate the placement of the property on the market quickly while ensuring quality work.  As part of the offering, we include a 1 year warranty on all work completed.  Diligent preservation, protection and on-going maintenance is required throughout the marketing process.  A large portion of work is completed with our own forces.  We have strategic alliances with many vendor/contractors, utilized to provide specialized services, when required.  Volume purchasing and negotiated contracts equate to lower costs passed on to our clients.


Property Management

The assessment of value must also determine the most advantageous time to realize that value.  Selective and managed re-marketing of properties will allow for market stabilization in areas where high foreclosure rates exists.   In those areas it may not make sense to immediately market the property for sale, but in-turn may be offered for rental, lease or lease with option to purchase.  Holding the property for long-term investment -- deferring the eventual resale -- will allow for an orderly and systematic re-absorption of properties into the market.  Our property management staff can provide an immediate revenue stream to the client.  The client can take advantage of improving market conditions in the future.  Income generated by rental optimizes the likelihood that a larger proportion of value can be recouped.

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