At Homistic Real Estate, Inc., we follow a structured, proven REO disposition process that minimizes lender holding costs and maximizes net proceeds. Here is exactly how we handle your Rhode Island and Southern Massachusetts REO assets from assignment to closing.

Step 1: Assignment and Intake

Upon receiving an assignment, we immediately confirm receipt, enter the property into our management system, and set up within your servicer platform (Equator, RES.NET, Pyramid). We confirm all assignment parameters within 24 hours.

Step 2: Occupancy Verification

We conduct an on-site occupancy check within 24-48 hours of assignment, photograph the property, and report findings to your team immediately.

Step 3: Occupancy Resolution

If occupied, we initiate cash-for-keys negotiation. If cash-for-keys fails, we coordinate formal eviction proceedings with a qualified local attorney.

Step 4: BPO and Valuation

We complete a thorough BPO with comparable sales analysis, AS-IS and AS-REPAIRED values, and a recommended disposition strategy. Delivery within 48-72 hours.

Step 5: Property Preservation

We coordinate all necessary preservation work including re-keying, winterization, boarding, trash-out, lawn care, and maintenance with photo documentation.

Step 6: Listing and Marketing

We list on MLS, syndicate to major platforms, conduct showings, and pursue investor and cash buyer outreach. Weekly activity reports are provided to your team.

Step 7: Offer Management and Closing

We present and evaluate all offers, manage lender-compliant contract execution, and coordinate closing through the day of closing.

Ready to put this process to work? Call (401) 432-7227.