When a property becomes difficult to manage prompt action to resolve the issue or issues must be taken. We have talked about that in our blog before. As a lender, the question you must ask yourself is whether you feel comfortable trying to manage the property or does it make more sense to hire a distressed property specialist?
Let us look at this another way. Your car has started falling apart and selling it will be impossible without the necessary repairs. Would you take a chance at changing out the transmission and performing a top end overhaul or would you invest in the expertise of an auto specialist who will fix the problems and get your asset back on the road to recovery?
Lets face it. Asking for help is tough. However, as a lender or institution, receiving advisory services is an investment in the future of the asset or property. In Atlanta, we see many assets go into foreclosure and sold for hundreds of thousands less than they were once worth due to mismanagement and untimely action. The Georgia real estate market is tough and we at EpiCity Real Estate Services have been in it a very long time. Prompt strategic action must be taken to avoid a downward spiral.
The Lender Advisory Services that EpiCity offers are:
- Client Loss Mitigation and Asset Rehabilitation
- Pre-foreclosure Asset Evaluation
- Receivership
- Post-Foreclosure Asset and Property Management
- Market Valuations