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I have been ask by many new REO agents what timelines do banks normally have?

This is a timeline that I hope everyone will find useful. This is just what I have found to be the norm. If in doubt always best to check with your asset manger unless directed to send questions to their pre marketer.

 

 

Agent Task

Deadline (from when task is opened)

Accept/Reject Listing

4 hours

Determine Occupancy/Units/PPE

1 day

Provide HOA Information

2 days

Broker Sign Off (verification initial services complete)

1 day

Checklist of Damages

2 days

Initial BPO Online

3 days

MLS Sheet/MLS Number

1 day

Marketing Description

1 day

Supply Marketing Photo

1 day

Property BPO Form (updated every 60 days)

3 days

Property BPO (Change Listing Agent)

2 days

Monthly Status Report

2 days

Supply Listing Extension

1 day

Send Signed Contracts

1 day

 

 

 

 

Accredited A-REO REO Agent Five Star Institute REO Certified Equator Certified ReoTrans Certified Certified E-Pro™ Realtor
Short Sale and Foreclosure Certified Realtor Res.Net Certified

 

Brandon Jordan

 

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Comment by Billie Dalessio on January 29, 2011 at 7:18pm
Brandon, great info. I can only add City property registration-2 days. Final invoices- 20 days.

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