To meet the growing needs of our clientele, NAI Emory Hill’s Property Management division has formalized its own Real Estate Owned (“REO”) and receivership services.
REO properties are those where the “keys” have been turned over from the borrower to the lender due to the borrower’s inability to meet the obligations of the loan. The lender then employs NAI Emory Hill to manage the asset until it is sold, often after reposition and stabilization. Often NAI Emory Hill’s Brokerage Division will be the selling and leasing agent working in conjunction with Emory Hill Property Management.
Receivership servicers are related, but more complicated. With receiverships, Emory Hill is court-appointed to act as the de facto owner of distressed assets while lenders and borrowers settle issues or during the foreclosure process. When appointed as receiver, NAI Emory Hill is responsible for operating, preserving and stabilizing the asset through employing the range of services we offer.
“As a thiry-plus-year-old company with formal divisions in each of the aforementioned areas, NAI Emory Hill is uniquely positioned to be a receiver in the mid-Atlantic region,” according to Director of Property Management Clayton Hill. “Given our in-house ability to provide all of the essential services necessary to stabilize and reposition distressed properties, Emory Hill is a natural choice for clients looking to make the receivership process as seamless as possible, and we have the track record to prove it