REO RESQ™ : TAKING PROPERTY PRESERVATION TO THE NEXT LEVEL

National Franchise Helps Service Record-Setting Number of Foreclosure Properties

At a time when foreclosures are surging all across America, the demand for properly-trained and qualified contractors who will properly service these vacant and frequently-abandoned properties is at an all-time high.

Enter REO RESQ™ – the first national franchise of property preservation specialists (“REO” stands for “Real Estate Owned” and is the common industry term for a property that has reverted back to the lender or asset manager when a mortgage has gone into default).

The business of taking care of a foreclosure property can be complex. Frequently, the lender or asset manager who needs to sell the property can be located hundreds of miles away and obviously can’t personally handle the “on-the-ground” details.

Not only that, but foreclosure REO properties require a lot more repair and maintenance than normal homes being sold by their owners. To begin with, the homes are frequently left in very bad condition – sometimes it requires two tractor-trailers to “trash-out” the house, i.e. remove the debris and personal property left by the last people to occupy the home.

Also, vacant foreclosures are frequently the target of vandalism, as well as unauthorized occupancies. To clean out the house, restore it to a reasonable state where it’s “market-ready” and maintain it until the property is sold requires a specialized skill-set and experience that few possess.

That’s why REO RESQ™, founded by Frank and Scott Patrick, two brothers with extensive experience in both selling and providing field service to foreclosure properties, has been established to provide a turn-key solution to REO agents, brokers and sellers who require reliable and properly insured and licensed property preservation companies to service their listings.

“Property preservation is not just about fixing a faucet or cleaning some windows,” said Frank Patrick, one of the founding brothers. “It can be a huge job with a lot of complexities. In addition to being able to secure a property quickly after foreclosure, you also have to be able to complete what is sometimes a massive clean out and repair job so the agent can put the property on the market as soon as possible. A property preservation company also has to make sure it has the right insurance, knows the local and national building codes and ordinances, and has the expertise to handle a variety of interior and exterior property repair and rehabilitation challenges.”

REO RESQ™’s nationwide network of property preservation specialists have been hand-selected for their experience working with foreclosure properties. The Franchisees are all Owner-Operated companies and are easily located on the REO RESQ™ website at REORESQ.com by a simple zip code search.

“We’re glad to be able to offer foreclosure property preservation experts the opportunity to become a REO RESQ™ Franchisee, as well as provide qualified people REO sellers and agents can depend on,” commented Scott Patrick. “It’s excited to start a national franchise that’s never been done before – and there’s no question this is the perfect time to begin REO RESQ™.”

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