This will make it easier for agents to search for their clients who want to purchase a bank owned property. 

An REO is “Real Estate Owned”. Most REOs are bank owned properties. But they can also be investors who purchase notes then foreclose on the homeowners and do cash for keys. Then they put the property on the market. They are also considered REOs because they foreclosed on the property and now have title to the property but are not homeowners per se. 

We help a company by listing and sell their properties after they foreclose on the homeowners or property owners. They buy the delinquent notes from the banks and other investors at a discounted rate. Then this company takes on the work of foreclosing on the note. 

Most buyers search for a foreclosed properties by using the terms, foreclosures or bank-owned. Very raraly will a consumer use the term “REO” unless they have some real estate background as that is real estate jargon. 

So having REO as a search field in the MLS has been a long time coming but not a direct benefit to consumers. Rather it is a great tool for agents to have to provide better service to their buyers. 

If you are an asset manager and need specialized Wellington Home Preservation services for your assets in Wellington Florida contact Nestor Gasset at 561-541-9936- his direct line for REO asset managers. 

International Properties and Investments - we are members of three Realtor® boards in our markets. We are members of the Realtor Association of the Palm Beaches, the Realtor® Association of St Lucie and we are also members of Miami Association of Realtors®. 

Miami Association of Realtors® is our favorite board of realtors®. Miami Association of Realtors® combined with some boards in Ft Lauderdale, Broward county and areas of Miami/Dade county. There used to be so many boards to join in South Florida that it was actually cost prohibitive to do business in the Miami metro areas and Broward county because you would have to belong to so many different boards if you had agents in many markets. 

The smartest thing that Miami Association of Realtors® did was merging and becoming the power board they are now. There is power in numbers. 

How does being a member of the Miami Association of Realtors® benefit our sellers and those who are thinking about listing with International Properties and Investments ? 

The reach is huge… if you want your property marketed on an international scale and be front and center with foreign buyers there is no other board who can deliver the power of international marketing the way that Miami Association of Realtors® can.

Your property gets marketed in 19 different languages and vast U.S. and International exposure on over 500 websites. We also send your listing to all the members of our network with foreign companies in the International Referral network. 

Miami Association of Realtors® partners with real estate professionals in many other countries like Brazil, Columbia, Panana, Costa Rica, Mexico, Argentina, Puerto Rico, the Caribbean, Belize, Chile, Bulgaria, Denmark, Norway, Portugal, Italy, Russia, Lithuania, Estonia, Latvia, Poland, Hungary, France, Spain and the United Kingdom. 

South Florida is the leader in selling properties to foreign buyers.

Foreign buyers like Polo Players and Equestrian riders and horse owners come to Wellington Florida to purchase Wellington Equestrian horse farms.

Foreign buyers come to the Miami Beaches to buy waterfront condominiums.

Foreign buyers come to South Florida for lifestyle and to open up new businesses here. We welcome foreign buyers. 

Nestor Gasset and Katerina Gasset are Certified International Property Specialists and network with real estate professionals from many different countries. 

List your property with International Properties and Investments LLC for to get your South Florida property marketed to more foreign buyers. 

Bragging rights:) and self-promotion going on here with a smile on my face- yes, it is time to toot our own horns here! 

Back in 2007 there were over 10,000 agents in Palm Beach County and that number has dropped by 50%. We embraced short sales since we already knew how to do short sales since the 90′s recession and the 80′s recession. 

More agents were doing short sales in Wellington and Palm Beach County in 2011. We remained in the top closers for our short sale listings. This is because we don’t give in nor do we give up. The last person that just googled to find us put in google: keyword + Aggressive short sale agents and our name popped up for them. You can not be passive and close short sales. You can not be an order taker and close short sales. 

It was exciting to get the email from Ocean Capital Lending announcing our 2011 success being in the top 9% of all the agents in Palm Beach County. The best part about it is that it is a third party validation of our numbers, in other words, I did not do the math, a third party did:) And that is always a good thing! 

I will be the speaker on Wednesday October 19th. The topic is: Techology for the Non Techies. 

We know that REO brokers are very busy and don’t have time to learn all the techie in and outs of getting your brokerage on line in a meaningful and effective way.  We hope to get you up to speed in a fast and painless way:) 

If you are going to be there we would love to meet you.  

Here is the link to the REOMAC event page. REOMAC is an organization that helps agents and supports agents and brokers who are in the REO industry by providing tools and conferences to keep up to date with compliance issues and trending of services and asset managers within the field of Real Estate Owned Properties. 

On Wednesday October 12, 2011 the event is from 9 a.m. to 12 noon at the Eagle Glen Golf Club Ballroom located at 1800 Eagle Glen Parkway in Corona. 

NAHREP is the National Association of Hispancic Real Estate Professionals. If you are a member of the NAHREP Inland Empire the event is free. If you are a non-member you are more than welcome to come out to meet me and take in a great session for only $20. You can not beat those prices!!! 

I will be speaking and teaching for 3 hours each day. I would love to meet any of you that live in this part of Southern California. 

The agenda will go something like this: 

• SEO best practices 
• Building your brand online 
• Online dominance
• Blogging for listings
• How to develop your niche through niche websites 
• Reputation Management 
• Google updates and changes

and of course, answering your questions! 

I am looking forward to meeting you:) 

There are two ways in which your Florida home becomes an REO. First, let’s define what REO is. REO stands for Real Estate Owned. It is a real estate term meaning a Bank Owned Property. 

You can read a more in depth article about What Is An REO here. 

The first way and most often way a home turns into a Florida REO is through a foreclosure process. Here in the state of Florida we are a judicial state and a statutory warranty state. This means that when you buy a property here in Florida whether you pay all cash for the property or you get a loan secured by your property you still get a real statutory warranty deed that you get to hold in your hands and remains in your possession. 

Some states have Trust Deeds which is a form of a deed but you don’t actually get the statutory deed until after you pay off your loan to your lender. So in those states the foreclosure process is very fast. 

For your home to become a Florida REO the mortgage servicer has to get a judge to order the surrender of your statutory warranty deed to them. This must follow the due process and you get your day in court to defend against this. The foreclosure processs can take anywhere from a few months to a few years. 

The day you lose your home by a judge ruling that the bank now has your home you are no longer the owner of your home. That day, the bank owns the property.

On that day, your Florida home becomes an REO or bank owned property. 

The second way that a property becomes a Florida REO is through a Deed In Lieu. 

A Deed in Lieu is in simple terms a foreclosure without going to court. It is a legal way to avoid a court hearing by you turning over your Statutory Warranty Deed to fulfill your loan obligation. Of course, the process of a DIL is not as simple as I just put it. But for the purpose of how a home turns into an REO or bank owned property, this will suffice. The homeowner and the lender must come to an agreement on the terms of the deed in lieu. 

At the time that you sign a Deed In Lieu and the bank has agreed you must leave your property. You can no longer live in your Florida home when you complete the arrangements of a DIL. You also must clear any other obligations such as second and third notes, home equity lines of credit, property taxes and satisfy any liens on your property such as HOA fees and other liens. 

Florida REO Servicers- International Properties and Investments Inc are the eyes and ears for REO Asset managers who have properties that need to be serviced in South Florida counties of Palm Beach County, Broward County, St Lucie County, Martin County and Miami/Dade Counties. 

Asset managers are not here, they can not see the properties they are in charge of because most of the time they are in another county or state. It does not look good in neighborhoods and communities that properties are left to fall into major disrepair. So how do Asset managers who are working for banks and have bank owned properties  protect the values of their assets and protect the banks’ reputation within local communities.

Florida REO Servicers know that asset managers can not be here to physically take care of those REO properties. We understand the issues facing asset managers and we understand the issues facing local communities and the values of properties.  We know that property inspection and property preservation are at the top of the list of the bank’s priorities in the REO area.

We are the trusted advisors for asset managers in the REO section of the Florida residential real estate markets. 

We also have the Florida expertise and specialized skills to help asset managers meet their goals. Each state and each county has different rules, laws and procedures and we are familiar with those. We know how to advise REO asset managers on what has to be done to eliminate problems such as keeping code violations from being attached to properties. 

Florida REO servicers understand, have the resources, have a Florida REO Home Preservation Team in place and solutions readily available to REO asset managers. 

As brokers who sell South Florida REO properties we are the eyes and ears for the asset managers who trust us to move their inventory in a timely manner. This is very important because the asset managers are not usually located in the town they have assets to get on the market and move. 

Asset Managers are trusting the local brokers to be their eyes and ears. They are trusting the local brokers who they hire to list and sell the properties that the asset manager needs to get sold. Asset managers can not see the properties. 

Don’t blame the banks if the properties listed as “bank owned” properties are in poor shape with lawns not mowed and litter all over the yard. The banks hire asset managers to find the local brokers and real estate agents who will be able to market and sell the bank’s assets, namely, the properties.

The local broker is responsible for the upkeep and cleanliness of the property.  This is part of the responsibilities of pre-marketing of REO properties. Some brokers do a very good job of keeping their listings maintained and others do not. 

We take pride in our communities because we live in our communities and want our values to be protected. One of the ways to protect home values in a neighborhood is by making sure the REO properties are clean of debris, lawns mowed and maintained, weeded landscaping, decent lighting and cosmetic repairs made to the properties. 

Another reason why we want to make sure our REO properties are well kept is because that also deters squatters from enterering the properties. The more lived in a property looks – the less likely vandalism and drug use will occur in the properties. Check out our REO Home Preservation Team page. 

Call Nestor Gasset and Katerina Gasset at 561-753-0135 for more information about getting your South Florida REO assets on the market and sold. You can also reach Nestor Gasset on his cell phone by text or voice at 561-541-9936.