Home / REO & Bank-Owned Property Disposition
REO · Bank-Owned · Default Servicing

REO & Bank-Owned Property Disposition

Broker coverage for servicers, asset managers, banks, credit unions and institutional owners across Connecticut, Massachusetts, Rhode Island and New York — from assignment through closing.

Connecticut
Massachusetts
Rhode Island
New York — Westchester & Rockland
Zack DeCaro
Primary Contact
REO Broker · CT & MA Broker, RI & NY Salesperson
Phone / Text: 860-209-3000
Nick DeCaro
Secondary Contact
Licensed Salesperson · CT & MA
Phone / Text: 860-281-5688
All real estate commissions and fees are negotiable. REO and distressed-property services are subject to applicable listing agreements, servicer or investor requirements, and eligibility.
Experience & Performance

A Track Record Built on Assignment-to-Closing Execution

Zack DeCaro has spent more than a decade working REO and distressed assets — valuing them, clearing them, marketing them and closing them.

Zack DeCaro has worked 1,000+ REO assets listed through Property Works New England and completed 1,500+ BPOs, with experience across government, GSE, bank and servicer assets and for institutional sellers, servicers, attorneys and asset managers. A portion of these assets were listed under the broker of record at Property Works New England.

10+
Years in REO & Distressed
1,000+
REO assets (brokerage total)
1,500+
BPOs & Valuations
$75M+
Career Sales Volume

Performance Scorecard

91%
List‑to‑Sale
Pricing Accuracy
93%
Sale vs. BPO
Valuation Reliability
89%
Contract‑to‑Close
Deal Certainty
37 days or fewer
List → Contract
Marketing Speed
38 days or fewer
Contract → Close
Closing Speed

Performance figures shown are overall averages across the REO platform scorecards Zack works on. They represent historical results across past assignments and are not a guarantee of future results. Individual asset outcomes vary with condition, occupancy, title, market and investor requirements.

Why Asset Managers Assign Here

More Than an MLS Listing

Investor-Operator Pricing

  • Assets are priced the way buyers actually underwrite them
  • Valuations grounded in comparable sales, condition and local market dynamics
  • Background buying and repositioning property, not only listing it

Occupied-Asset Specialist

  • Cash-for-keys attempted first, eviction coordinated if needed
  • Occupant contact handled directly and documented
  • Tenant-occupied assets managed when the file calls for it

Reporting Discipline

  • Every asset tracked in a purpose-built internal REO database
  • Same-day responses to asset-manager requests
  • Monthly status reporting on every file
Complete REO Services

Valuation, Occupancy, Preservation, Marketing, Closing

Each category below is handled directly or coordinated on the asset manager's behalf, in line with client instructions and portal requirements.

Initial Asset Assessment

  • Occupancy verification
  • Property condition reporting with photo documentation
  • Interior and exterior BPOs
  • As-is value analysis
  • MLS and comparable-sales market research
  • HOA, tax, utility and municipal research

Occupied Assets

  • Occupant contact and door knocks
  • Cash-for-keys negotiation, on client authorization
  • Eviction coordination with the client and legal counsel
  • Vacate confirmation and possession follow-up
  • Tenant-occupied asset handling

Preservation & Repairs

  • Securing and re-key coordination
  • Winterization
  • Debris removal and trash-outs
  • Ongoing property inspections
  • Code-violation and municipal issue coordination
  • Repair scopes and contractor bids
  • Repair and renovation oversight
  • Preservation-vendor dispatch and follow-up

Marketing & Disposition

  • Pricing strategy and list-price recommendations
  • MLS listing and syndication
  • Investor and owner-occupant buyer exposure
  • Social media marketing and a curated buyer list built over 10+ years
  • Buyer and buyer-agent inquiry handling
  • Multiple-offer and highest-and-best management
  • Offer negotiation

Closing & Reporting

  • Presentation of all offers
  • Direct asset-manager communication
  • Monthly marketing and status reports
  • Updated BPOs and pricing recommendations
  • Title and closing coordination
  • Attorney and closing-agent coordination
  • Contract-to-close monitoring
  • Property reconciliation at closing
Due Diligence & Advisory

Work That Happens Before the Asset Is Yours

Separate from listing assignments, Zack takes on diligence and advisory engagements for note buyers, funds and small institutional holders who need someone on the ground before a trade closes — or oversight after it does.

Non-performing loan & default collateral services

Pre- and Post-Trade Diligence

  • Property inspections before auction
  • Property inspections after auction
  • Code-violation and lien verification
  • Non-performing note (NPL) diligence
  • Pre-purchase due diligence

Valuation & Oversight

  • Valuation services
  • Valuation reconciliation
  • Repair project management and consulting to limit loss severity
  • Servicer oversight for small investors
  • Vendor referral and coordination
First 30 Days After Assignment

What Happens, and When

Standard operating targets measured from the assignment date. Each client's service-level agreement and task deadlines take precedence over the targets below.

24 hoursDay 0–1
Occupancy and condition report — property visited, occupancy determined, condition documented with photos.
24 hoursDay 0–1
MLS and listing data sheet — property data assembled and returned to the asset manager.
48 hoursBy Day 2
BPO completed — interior BPO when the property is vacant, exterior when access is not available.
72 hoursBy Day 3
HOA, utility and tax research — association status, utility accounts and tax position confirmed.
Days 1–30Per client approval
Occupied: contact and cash-for-keys — occupant contact initiated and cash-for-keys negotiated only once the client authorizes it.
Days 1–30Vendor-dispatched
Preservation — re-key, trash-out and winterization dispatched to preservation vendors and followed through.
Days 3–14With BPO / on request
Repair scope and bids — scope prepared and contractor bids gathered alongside the BPO or on request.
Days 7–30After price approval
Listing live on MLS — asset listed and syndicated once the list price is approved.
24 hoursOf receipt
Offers presented — every offer submitted to the asset manager within 24 hours of receipt.
30–45 daysRecurring
Updated BPO and price review — valuation refreshed and a pricing recommendation issued on a 30–45 day cycle.

Ongoing Cadence

Same Day
Asset-manager responses
Weekly
Inspections & photos
Monthly
Status report, every asset
30–45 Days
Updated BPO & pricing
Occupied-Asset Process

From Occupancy Check to Listed

Occupied files move along a defined path. Cash for keys and relocation assistance are performed only with client authorization, and eviction-related work is coordinated with the client and the appropriate legal professionals.

01
Occupancy check
02
Occupant contact
03
Cash for keys
04
Vacate & inspect
05
Re-key & secure
06
BPO update & list

Zack DeCaro is a licensed real estate broker, not an attorney, and does not provide legal services or legal advice. Eviction and possession matters are handled by the client's counsel.

Who We Serve

Institutional Owners of Real Property

Mortgage servicers
REO asset-management companies
Community banks
Credit unions managing OREO
Private and investor lenders
NPL and distressed-debt funds
Attorneys and special-assets departments
Government and GSE-related vendors

Default-servicing and loss-mitigation departments seeking local broker coverage in Connecticut, Massachusetts, Rhode Island or the Westchester and Rockland County markets can contact Zack directly.

Coverage, Licenses & Platforms

Licensed Coverage Across Four States

License type and coverage area for each state are listed exactly as issued. Broker and salesperson licenses are shown separately.

Connecticut
Broker
#REB.0795525
Statewide
Massachusetts
Broker
#9586658-RE-B
Statewide
Rhode Island
Salesperson
#RES.0044912
Statewide
New York
Salesperson
#10401329752
Westchester · Rockland

Rhode Island and New York services are provided under a salesperson license through the sponsoring brokerage. Connecticut and Massachusetts assignments are held at the broker level.

REO Platforms & Portals
EquatorRES.NETPyramidExcelerasHomeStepsAspen GroveVendorlyAssetValRealtyBidHUD systems

Second Point of Contact

Nick DeCaro works alongside Zack on REO files, covering showings, occupancy follow-up, vendor access and buyer-side communication so assets keep moving when Zack is in the field.

—Nick DeCaro — Licensed Real Estate Salesperson, Connecticut & Massachusetts
860-281-5688
—Brokerage — Property Works New England
2264 Silas Deane Hwy, Rocky Hill, CT 06067

License copies, E&O coverage, W-9 and references are available on request.

Quality Control & Communication

Operational Standards on Every File

The operational habits that keep an REO file clean: fast acknowledgment, tracked deadlines, documented work, and issues escalated before they become delays. Support staff assist with file administration and vendor follow-up, and licensed buyer agents cover showings and buyer inquiries, but Zack and Nick work every asset directly.

Prompt acknowledgment of new assignments
Deadline and task tracking on every asset
Photo and inspection documentation
Vendor dispatch and follow-up to completion
Monthly status and marketing reporting
Updated pricing recommendations on a 30–45 day cycle
Offer analysis and presentation within 24 hours
File tracking in a purpose-built internal REO database
Quality-control review before submission
Compliance with client instructions and portal requirements
Escalation of occupancy, title, condition or municipal issues
Support staff on file administration and vendor follow-up
Licensed buyer agents covering showings and buyer inquiries
Direct, named points of contact — no call-center handoffs
Direct Buyer Reach

Social Media & a Curated Buyer List

Beyond MLS syndication, every asset is pushed to active social media channels and to a buyer list built and curated over more than 10 years — investors, owner-occupants and repeat cash buyers who move on bank-owned and distressed property. The list keeps growing with every assignment.

Curated buyer list — 10+ years and growing
Social media marketing
Investor & owner-occupant outreach
MLS syndication to major portals
BPO & Valuation Services

Interior and Exterior Broker Price Opinions

More than 1,500 BPOs and valuations completed. Every opinion is grounded in real comparable-sales analysis, current property condition and local market dynamics — not an automated estimate. Standard turnaround is 48 hours, with interior inspection when the property is vacant.

See full BPO & valuation services

Order a BPO
Frequently Asked

Coverage, Timelines & Capabilities

What areas do you cover?
Connecticut statewide and Massachusetts statewide at the broker level, Rhode Island statewide as a licensed salesperson, and Westchester and Rockland Counties in New York as a licensed salesperson.
How quickly can you complete an occupancy check?
The standard target is an occupancy and condition report within 24 hours of assignment, with photo documentation. Client task deadlines take precedence where they are shorter.
How quickly can you complete a BPO?
Within 48 hours of assignment. Interior BPOs are completed when the property is vacant and accessible; exterior BPOs are completed when interior access is not available.
Do you handle occupied properties?
Yes. Occupied assets are a core part of the practice — occupant contact, cash-for-keys negotiation, eviction coordination, vacate confirmation, and re-key and secure once possession is obtained. Tenant-occupied assets are handled as well.
Can you coordinate cash for keys?
Yes, once the client authorizes it. Cash-for-keys is attempted first on occupied assets, with eviction coordinated through the client and the appropriate legal professionals if a negotiated vacate is not reached.
Do you coordinate preservation and repairs?
Yes. Re-key and securing, winterization, trash-outs and debris removal are dispatched to preservation vendors and followed to completion. Repair scopes and contractor bids are prepared alongside the BPO or on request, and code-violation issues are coordinated with the municipality.
Which REO platforms do you work in?
Equator, RES.NET, Pyramid, Exceleras, HomeSteps, Aspen Grove, Vendorly, AssetVal, RealtyBid and HUD systems.
How are offers presented?
Every offer is submitted to the asset manager within 24 hours of receipt, with multiple-offer situations managed through a highest-and-best process and presented together for the client's decision.
How often do you provide status and pricing updates?
Asset-manager requests are answered the same day. Inspections and photos are completed weekly, a status report is issued monthly on every asset, and an updated BPO with a pricing recommendation is provided every 30 to 45 days.
What onboarding documents can you provide?
License copies, E&O insurance coverage, a completed W-9 and references are all available on request.
Direct Contact

Contact Zack DeCaro Directly

For REO coverage, BPOs, broker assignments, or asset-specific questions, contact Zack DeCaro directly. No intake form, no appointment funnel.

Zack DeCaro
Primary Contact
REO Broker · CT & MA Broker, RI & NY Salesperson
Phone / Text: 860-209-3000
Nick DeCaro
Secondary Contact
Licensed Salesperson · CT & MA
Phone / Text: 860-281-5688

Prefer a form? Use the contact page — but phone, text and email reach Zack fastest.

Investor & Foreclosure Alerts

Get New Investment Properties & Foreclosure Listings First

Sign up for direct alerts on off-market investment opportunities, bank-owned properties, and foreclosure listings across Connecticut, Massachusetts & Rhode Island — before they hit the open market.

  • Early access to REO & distressed-asset listings
  • Filtered by your price range, markets & property type
  • Direct line to Zack & Nick DeCaro — no automated spam
Buying or selling a home instead?

Zack and Nick also represent everyday buyers and sellers across Connecticut, Massachusetts and Florida — including the 1% listing program.

All real estate commissions and fees are negotiable. REO and distressed-property services are subject to applicable listing agreements, servicer or investor requirements, and eligibility.

Property Works New England

Nick & Zack DeCaro operate under Property Works New England · 2264 Silas Deane Hwy, Rocky Hill, CT 06067

Licensed in CT, MA, RI, NY & FL

Licensing

Brokerage License REB.0758662

Zack DeCaro — CT Broker REB.0795525 · MA 9586658-RE-B · RI RES.0044912 · NY 10401329752 · FL SL3584718

Nick DeCaro — CT RES.0797822 · MA 1001103-RE-RS

FL Brokerage: Dalton Wade Real Estate Group, 260 1st Ave S, St. Petersburg, FL 33701 · (888) 668-8283

We are committed to fair housing practices and equal opportunity in accordance with the Fair Housing Act. We do not discriminate on the basis of race, color, religion, sex, handicap, familial status, or national origin. Equal Housing Opportunity.

All real estate commissions and fees are negotiable and not set by law. REO and distressed-property services are subject to applicable listing agreements, servicer or investor requirements, and eligibility. Property information is deemed reliable but not guaranteed and should be independently verified.