Sherman Toppin Real Estate (STRE) specializes in the management and marketing of REO portfolios, and properties in default that are pending foreclosure, which are owned by banks, mortgage lenders, investment bankers, governmental agencies and private entities.

Rent Receiver Appointment

Pursuant to most commercial mortgage contracts, a lender may petition the Court for the appointment of a "Rent Receiver'" who is empowered to intercept tenant rent payments from delinquent borrowers. The Rent Receiver must also provide interim property management and stabilization pending foreclosure proceedings.  STRE is experienced with such Receiver appointments.

Initial Property Inspection

Completed within 24 hours: Property is inspected and a written report containing pictures and findings are submitted.

Title Ordering & Title Defect Curing

Title is opened, liens and encumbrances are assessed and curative actions are initiated.

Security of Premises

The property is secured by changing or re-keying locks, boarding windows and/or doors, installing new windows and/or doors and repairing or installing fencing. Also, 24 hour security can be arranged, if needed.

Grounds Maintenance

The removal of trash and debris from property is arranged. Landscaping services are provided where needed. This may include, but is not limited to snow removal and/or winterization.

Tenant / Occupant Relocation

Communication is initiated with the property occupants and "cash for keys" arrangements are facilitated.

Eviction Coordination

Coordination of the eviction process is provided.

Property Valuation

Appraisals, Comparative Market Analysis (CMA's) and/or variance valuations are provided.

Broker Price Opinions

Detailed Broker Price Opinion's (BPO) are provided. Most BPO's include pictures.

Repairs and Maintenance

Needed repairs and maintenance items are provided. All repairs and maintenance is provided by our qualified, licensed and bonded contractors.

Marketing Plan Report

We prepare and submit a marketing strategy plan for any property in the Philadelphia Metropolitan area, including all surrounding counties.

Property Marketing

Properties are marketed using a wide variety of methods including: MLS, online websites and listings, local advertising, open houses and showings.

Monthly Status Reports

Monthly Status Reports (MSR's) are provided to keep clients advised of all post-foreclosure developments while the property is in REO.

Property Transactions

Offers are accepted, terms are negotiated, sales agreements are reviewed, conveyancing is performed and settlements are coordinated.

Auctions

Closed bid or absolute auctions can be performed.

Consulting

Expert real estate advise is provided regarding any issue or matter concerning a property in default or in a REO portfolio.