Reo/foreclosure Services
These REO and foreclosure services are part of the full range offered by Discover Properties, LLC in Indianapolis.
Pre-foreclosure Activities
- Broker Price Opinions – Exterior and Interior
- Property condition inspections
- Pre-foreclosure Interviews
- Pre-foreclosure sale workouts
- Preservation and Securing
Occupancy Status Report/interview
- Within 24 hours – If Occupied-Determine if occupants plan to vacate and when
- Provide Client with correct names of all occupants and their living arrangements
- If vacant – secure property and re-key
Surrender/eviction Proceedings
For Occupied Properties:
- Negotiate cash for keys when authorized
- Coordinate eviction with foreclosure attorney, sheriff, movers, locksmith
- Attend eviction as Client’s representative
For Vacant Properties:
- Secure and re-key property
- Transfer utilities (electric, gas, fuel oil services, etc.) in Broker’s name or
- Client’s name if requested
Initial Inspection Reports/bpo
Conduct preliminary comprehensive property inspection immediately following eviction or vacancy of property
Within 5 days if occupied:
If entry is permitted, prepare an interior BPO & Initial Inspection Report
Provide information on occupants’ willingness to permit entry for Client’s Independent Appraiser, when applicable
When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided
Within 5 days if vacant:
Complete a BPO and Initial Inspection Report with interior and exterior photos
When the property is part of a Condominium or Homeowners Association, an Association Information Sheet will be provided
*** BPO’s are updated every three (3) months, if requested ***
Property Preservation/repair Bids
Property Preservation:
- Secure property and/or board-up to FHA standards
- Debris removal (interior and exterior)
- Winterization/De-winterization
- Activate systems
- Snow removal and lawn maintenance
Renovation:
- Recommend list of repairs
- Solicitation of bids
- Monitor repairs
- Review invoices
- Notify of satisfactory completion of work
Marketing the Property
Upon receipt of Signed Listing Agreement:
- Sign placed on the property
- Enter property data into Multiple Listing Services
- Begin marketing with full exposure to advertising media, newspapers, magazines, etc.
- Direct mail-outs to investor clientele list, neighbors, etc.
- Fax/e-mail brochures to area Brokers with updates
- Enter on website
Ongoing services through closing:
- Property Inspection Condition (reported monthly)
- Showing and Prospect Comments (reported monthly)
- Marketing Updates (monthly)
- Progress Reports (monthly)
- Invoices to Client for monthly reimbursements
SALES AGREEMENT AND CLOSING PROCEDURE
- Overnight original final Contract of Sale to Client
- Under Contract Weekly Status Reports faxed to Client
- Broker Closing Progress
- Contract to Closing checklist – monitored daily with strict Buyer and Buyer’s agent performance guidelines
- Confirm that all reimbursement invoices were paid prior to closing
BROKERS PRICE OPINIONS
- DRIVE-BY OR INTERIOR INSPECTIONS
- Upon request, we will complete a Market Study Evaluation on the current market listings, sales, trends and conditions.
- BPO’s are completed on the Client’s standard form or website along with attached digital photos or e-mailed photos.
- Due dates and client deadlines are critical and rush orders are accepted. Fees are negotiable.
- A minimum of three (3) pictures are provided with Drive-by BPO’s and up to twenty-four (24) pictures with Interior BPO’s. All digital photos are uploaded to Client’s website.
- Tax records are searched and findings are included with the BPO. When necessary, we secure data from the local Tax Assessor’s office.
- Upon request, we can include a minimum of three (3) sales and three (3) listing Comparables with pictures.
- Occupant contact, when requested, will include names of occupants, phone numbers, lease information (when applicable) and interior inspected (when permitted).
Property Management in Indianapolis and Surrounding Communities
Discover Properties has provided full-service property management in the Indianapolis area since 2006. We work with rental property owners and third-party managers to handle the day-to-day details of owning rental real estate — finding and screening qualified residents, collecting rent, coordinating maintenance, and keeping owners compliant and informed. Our goal is simple: protect your investment and make owning rental property in Indianapolis feel effortless.
Whether you own a single rental home or a portfolio of units, our Indianapolis property management team handles marketing and leasing, resident screening, rent collection, routine and emergency maintenance, financial reporting, and lease enforcement. You get local expertise, responsive service, and a single point of contact for your property.
We provide property management throughout Indianapolis and surrounding communities, including Avon, Beech Grove, Brownsburg, Greenwood, Plainfield, and Lawrence.
Property Management in Indianapolis: Frequently Asked Questions
What does a property management company do?
A property management company handles the ongoing responsibilities of owning rental property so you don’t have to. At Discover Properties, that includes marketing your rental, screening and placing residents, collecting rent, coordinating routine and emergency maintenance, handling financial reporting, and managing lease enforcement, including the eviction process when it becomes necessary.
How much does property management cost in Indianapolis?
Property management pricing in Indianapolis is typically based on a percentage of the monthly rent collected, with some services priced separately. Because every property and owner’s needs are different, we’ll walk you through our pricing based on your property and goals. Contact our Indianapolis office for a straightforward quote.
Do you manage single-family homes and small rental properties?
Yes. We manage a range of residential rental properties in the Indianapolis area, from single-family homes to multi-unit properties, for both individual owners and third-party managers.
What areas around Indianapolis do you serve?
We provide property management across Indianapolis and the surrounding metro, including Avon, Beech Grove, Brownsburg, Greenwood, Plainfield, and Lawrence. If you’re not sure whether your property is in our service area, reach out and we’ll let you know.
How do you screen tenants?
We use a professional screening process to review applicants’ background, credit, rental history, and income, so we can place well-qualified residents in your property and help protect your investment.
Amber Bradley
Listing Broker Discover Properties, LLC