Repairs
  • Repair and Rehabilitation Services.

In addition to real estate brokerage Magnum also is a building contractor.

The procedure for repair or rehabilitation for REO properties:

  • As stated in paragraph 1 above, in the event an REO property requires contracting work photographs of the damaged area will accompany a detailed estimate of cost to repair or rehab the affected area.
  • All necessary permits will be obtained.
  • The work will be done in a workmanlike manner and in accordance with applicable codes and ordinances.
  • Lien waivers for material and labor will be forwarded to R&L for presentation to the title company at closing.  Copies of the lien waivers will be forwarded to the asset manager.
  • Photographs of the completed work will be forwarded to the asset manager.
  • Payment will be made from the proceeds of the sale at closing.
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