Know what actually secures the note. Collateral inspection, occupancy determination and valuation before you buy — and disposition once the asset converts. Handled by Zack DeCaro, licensed broker in Connecticut and Massachusetts.
Most losses on a note pool are decided before the wire goes out. These are the checks that catch them.
Site visit with photo documentation, occupancy determination, exterior and where accessible interior condition, and any obvious deferred maintenance or damage.
As-is value and repaired value with a written comparable analysis, plus a 30-day quick-sale figure so the exit is priced, not guessed.
Code-violation verification, open permits, and tax, utility and HOA research that can quietly sit ahead of the position.
Foreclosure auction bidding is close to blind without eyes on the property. Inspections before the sale tell you what you are bidding on; inspections after the sale tell you what you actually got and what it will take to clear it.
Exterior inspection, occupancy indicators, neighborhood condition and a value opinion to set a walk-away number before the bidding starts.
Possession status, secure-and-re-key coordination, condition report and a repair scope so the carrying period starts with a plan.
For smaller investors and funds without in-house staff, ongoing oversight of servicer and vendor activity on the asset.
| Step | What Happens | Timing |
|---|---|---|
| Occupancy determination | Site visit, door knock, occupant contact attempt and status report | Within 24 hours of assignment |
| Cash-for-keys | Negotiated with the occupant on client authorization, with terms documented | Days 1–30 |
| Eviction coordination | Coordinated with the client and legal counsel; the broker does not provide legal advice | As directed by counsel |
| Vacate confirmation | Possession verified, property secured and re-keyed, condition re-documented | On vacate |
| Tenant-occupied assets | Lease and tenancy status reviewed with the client before any action | As applicable |
The same broker who inspected and priced the collateral takes the asset to closing — no handoff, no second learning curve. Preservation and repair oversight, pricing strategy, MLS listing and syndication, investor and owner-occupant marketing, multiple-offer management, and title and closing coordination.
Approved REO vendor on national GSE, bank and servicer panels. Assignments accepted through Res.Net, Equator, Pyramid, Exceleras, AssetVal, Vendorly, Aspen Grove, RealtyBid, HomeSteps, VRM and HUD systems.
Zack DeCaro, Broker
Phone / Text: 860-209-3000
Email: [email protected]
Property Works New England
Office: 860-414-4023
2264 Silas Deane Hwy, Rocky Hill, CT 06067
Include your company, the property addresses, whether the file is pre-trade diligence, pre-auction, post-auction or converted REO, and your timeline. Tape and pool files are welcome.
Brokerage services only. Nothing on this page is legal, tax or investment advice, and a broker price opinion is not an appraisal. Eviction and possession actions are directed by the client and its legal counsel. Zack DeCaro, Broker Associate, Property Works New England (brokerage REB.0758662). Florida services through Dalton Wade Real Estate Group. Equal Housing Opportunity.