Bay Area Bank Properties Bank Services

We serve The Greater Bay Area including San Francisco, San Mateo, Contra Costa, Alameda, Marin, Sonoma, Santa Clara and Solano Counties. To see a specific list of where we are currently accepting new assignments from asset managers, please download our list of zip codes:

View a list of zip codes where we do Buyer Price Opinions (BPOs)
(To download, right click and 'Save Target As')

Bay Area Bank Properties provides banks and asset managers a proven Four Point System:

1. Inspection - Occupancy - BPO's

2. Preservation - Renovation - Maintenance

3. Marketing - Buyer Qualification – Contract Negotiation

4. Financing - Title Work - Successful Closing

Inspection - Occupancy - BPO's

Upon notification that you have acquired, or are in the process of acquiring a new property, Bay Area Bank Properties will perform an on-site inspection to determine occupancy, condition and security of the property. We will then forward a written report indicating the property condition. Once in REO status we will secure property if vacant, and send a Broker's Price Opinion on the property within 24 hours, including photos of exterior and interior of property. If occupied, we will attempt to negotiate with tenants or former borrowers to attempt to regain possession of the property while making sure to coincide with your policies. If an eviction is necessary we will continue regular occupancy checks and give you frequent updates. When we are notified that a writ of possession/eviction has been issued, Bay Area Bank Properties will act as the agent in the field, meet local authorities at the property, perform the eviction, inventory any personal property, have the locks changed, and assume possession of the property.

Preservation - Renovation - Maintenance

Once we have assumed possession of the property, Bay Area Bank Properties will secure the property and send an updated Buyer Price Opinion with interior pictures within 24 hours of acquisition. We will have the property trashed out within 72 hours and submit a report on what else needs to be done to bring the property to market within that time frame.

We will also obtain three competitive bids on any repairs suggested, and report on the expected return on the scope of work to be done. If it is agreed that repairs and/or renovations are necessary, our experienced project manager will be ensure quality workmanship and timely delivery of a quality end property. Staging, through our in-house designer, is also available, for a discounted price for all REOs. We monitor and oversee all work for compliance with local codes and FHA requirement, timeliness and quality. We have a resource list of vendors to preserve, clean out, change locks, maintain and restore at below market prices.

Marketing - Buyer Qualification – Contract Negotiation

Marketing of your REO begins the day we are notified of a new acquisition. We immediately employ a pre-marketing strategy by contacting investors and home buyers. The property is advertised through proven media sources including print advertising, MLS, email marketing, and a comprehensive internet marketing strategy, including our flagship website www.BayAreaBankProperties.com. Bay Area Bank Properties also have a proprietary database of qualified buyers specifically looking for REO properties. Our qualified REO buyer agents are on hand to do all showings and negotiate the sale of your property. They are trained in all of our clients policies and will present clean offers in the manner you prefer.

Financing - Title Work - Successful Closing

We will verify all that buyers, prior to ratifying a deal, are pre-qualified with a lender who understands the caveats of REO assets and can perform on time and without issue. Bay Area Bank Properties has financing contacts nationally as well as locally. We also have a dedicated Transaction specialist who can interface with your title and escrow companies, and ensure all files have the proper paperwork as required by state, county and city. All closing packages will be reviewed by our team, then sent to your bank representative for final approval prior to closing. The team at Bay Area Bank Properties is available days, nights, and weekends insuring smooth and problem-free closings.

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