Full Service REO Department
WEICHERT, REALTORS® - Regional Properties focus is to be the best in the industry,
covering all aspects of the REO real estate transaction.
Since 1989, Weichert Regional Properties has successfully marketing REO and ORE residential and commercial properties as well as conventional retail transactions for properties in the counties listed below. If you have questions or would like additional information - contact us today.
New Haven County
New London County
Southern Hartford County
Southern Litchfield County
Southern Tolland County
Southern Windham County
The Special Services Department offers "Crade to Grave" brokerage beginning with occupancy status, moving through vacancy, 'cash for keys' (if applicable), targeting repairs, obtaining contractor bids, and managing the repair process, restoring and maintaining utility functions, marketing the property, negotiating offers and the final closing of REO properties. They have earned a national reputation for professionalism and efficiency in its ability to manage high volume sales and to provide premiere customer service.
Nick Mastrangelo, Director of Weichert Regional Properties' REO division, a licensed Realtor since 1987, has continually served the industry with integrity by providing innovative services and quality customer care. As the NRBA Master Broker in the State of CT, his career includes 22+ years devoted to REO properties; 20 years as Director of REO Services; and 9 consecutive years as a Top Producing Agent, at which point he chose to advanced his career as a Managing Partner. Nick is a graduate of AIB Institute, and a licensed appraiser and a Certified REO Specialist, completed RES.NET Agent Certification as well as Weichert Real Estate Affiliates' Management Academy.
Under Mr. Mastrangelo's direction, the Division's mission has been and continues to:
- Now serving REO properties as WEICHERT, REALTORS® - Regional Properties, Mastrangelo and the full staff of REO Specialists, have earned a national reputation for professionalism and efficiency in its ability to manage high volume sales and to provide premiere customer service.
- Along with technology and industry training, each member of the staff has had extensive training to handle loss mitigation.
WEICHERT REALTORS® - Regional Properties' REO Services provides the initial preview of subject property including prompt pre-foreclosure inspections. From there, the following steps are taken for Occupied or Unoccupied situations:
- Obtain names of occupants
- Complete drive-by Broker's Price Opinion (BPO)
- Submit bids, supervise re-key, board up, broom clean, etc.
- If necessary, occupancy checks and verifications
- Cash for key arrangement
- Eviction tracking
- Lockout and sheriff eviction services arrangements
- Complete BMA and Marketing Strategy Reports
Cost of cure services
List subject property, install lawn sign, submit to Multiple Listing Service
Online digital and electronic transfer services
Advertise and market property through various means
Monthly status report
Close sale of subject property
A full service asset management team
Loan loss mitigation service
WEICHERT, REALTORS® - Regional Properties Loan Loss Mitigation process can play an integral part in ensuring your properties never reach an REO state. Our trained Loan Loss Mitigation Consultants provide the homeowner with answers and alternatives to help avoid foreclosure.
Interest rate reduction
Long-term loan extensions
Short Sale Process
In the event the homeowner is unable to restructure or re-secure a loan for the dwelling, the REO Division will aid them in marketing the property and in most instances, locate suitable replacement housing.
Facilitation of short sales
Loan analysis and due diligence
For more information or a proposal to manage your organization's liquidated properties, please complete contact Nick Mastrangelo, 203-795-2351 or NMastrangelo@WeichertRP.com.