- 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:
Payment will be made from the proceeds of the sale at closing.
- 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.