reo remodeling

Whether you are looking to buy a Real Estate Owned, Bank Owned or Foreclosed Home property there are many factors to consider. Generally these properties are referred to as “distressed” due to being empty for a period of time or because the previous owners didn’t maintain the property. Occasionally when owners know they are about to lose the house they will intentionally damage the property and/or remove appliances and fixtures. While these properties can be purchased at a really great price it is compensation for the investment of the repairs that need to be made.


Do you typically work with the potential home buyer or an agent?

Anyone interested in buying any one of these types of properties and needs a trusted contractor we are willing to work with. In relation to agents: We work with the listing agent who has been employed by the bank. When the bank forecloses on a property they hire a local agent to handle the sale of the house. Those agents are often tasked with getting repair bids and determining a marketing strategy. A marketing strategy is AS-IS (no repairs made) or REPAIRED (repairs made).

What are the types of repairs that we do?

  • 1) Preservation – This is repairing a deficiency before further problems or damage can occur. For example, a hole in the roof needs to be repaired.
  • 2) Minimum FHA repairs - which allows all buyers to finance the house.
  • 3) Repaired - They update and remodel the house to bring it up to current market specs in order to secure the higher end of the value of houses in the neighborhood.
  • How does the process work?

    When the house is ready to put on the market asset managers that are employed by the bank to handle listings select a local real estate agent who will handle the sale of the property. Most often the real estate agent selects us as a preferred contractor.

    Why should people contact you in respect to this topic?

    I (Jason, the owner of Plumbline) have been involved in around 1,000 REO (foreclosure) transactions. I am intimately familiar with the process from cradle to grave. I know as an agent the expectations from the asset managers. I know as a contractor how to get the work done.

    When looking for a trusted contractor to make the necessary repairs to a REO property you need to work with someone that has experience and knowledge in the subject. Plumbline Construction Company has built a solid reputation over the years by offering quality service for both residential and commercial customers. Rest assured you will be provided reliable service that will complete your project in a timely and cost effective manner.
    Contact us at 804-218-5820.