Real estate owned (REO) disposition as defined by Williams & Williams involves the efficient sale of bank owned or foreclosed real estate to help mitigate the losses incurred by the defaulting of a mortgage loan. Our REO disposition services include auction marketing, property preservation, security from eviction through closing, and all required title and curative work necessary to affect a successful and immediate sale. Our marketing services and closing speed (average 75 days total) not only increases net realized returns, but also lessens the cost and time associated with traditional real estate marketing.

Contact Sr. Vice President, National Sales Director for REO Elsa Lewis @ 918-217-6424.

Visit our Staff Bios section to learn more about these contacts.

Williams & Williams 2008 Marketing Performance

• 15,000 properties auctioned via 10,000 auction events
• Nearly 4,000 auction on site auctions, over 60% with live online simultaneous bidding from around the globe
• 4500 online only auctions
• 5 studio auctions
• Over 70% increase in auction crowds
• Over 220,000 registered bidders

Over 6 Billion Advertising & Marketing Impressions

• Onlawn & directional signage
• Direct Mail
• Print Advertising
• Website
• E-Marketing
• Radio

For samples of REO clients, click here.

Williams & Williams has designed and implemented several progressive models for REO disposition and loss mitigation. Beyond the proven and traditional dispersal by auction, our services include turnkey and third party sales, which run concurrent with foreclosure, allowing lenders to avoid property ownership, costs and liabilities. Monthly sales in all 50 states offer sellers time-definite disposition.

Success Stories

• Palm Desert, CA
  Located on the 5th Hole of the Avondale Country Club, this showplace home was once host to fabulous parties featuring celebrities who traveled to this desert oasis to rub elbows with other celebrities and golf legends. The property sold for just under $1.4 million.
  
  
• Lees Summit, MO
  A bank-owned home on Wintergarden Drive in this booming suburb of Kansas City, Missouri is one of several hundred Williams & Williams has auctioned in the greater KC area. This property sold for $285,000.
  
  
• Houston, TX
  Hundreds of homes in and around the Houston area, including the Woodlands and Conroe areas, have been successfully sold at auction. This property on Honor Drive sold for $315,000.
  
  
• Interstate Foreclosures
  We have sold hundreds of homes and condominiums throughout Georgia and Florida for one of the southeast's largest REO investors, including several multi-million dollar mansions totaling over $16,800,000.
  
  
• Housing and Urban Development
  Working with HUD’s bulk sales program, Williams & Williams provided ongoing liquidity and higher returns by facilitating the turnkey sale of large packages of single-family homes. Subject to pending legislation, we envision a complete re-engineering of HUD's REO disposition process, which would privately securitize their portfolios of property while substantially mitigating current and future losses.
  
  
• First Tier Mortgage
  Providing our traditional REO sales services, we marketed homes, condominiums and rural properties throughout the Midwest for this former mortgage lender based out of Omaha, Nebraska, completing all sales in thirty days or less.
  
  
• NBC Bank
  This client was able to implement a new and very effective method to handle REO, and avoid taking title and incurring further loss. By utilizing the power of sale clause existing in many modern mortgages, we combined professional auction marketing services with the traditional notice requirements to achieve third party sales directly upon foreclosure.
  
  
• Security Bank
  This client is an example of a typical local/small business lender for whom we act as a full service disposition partner, marketing and selling all of their REO on an ongoing basis to third parties within weeks of acquisition.
  
  
• Private Lenders
  We assist many private lenders in the marketing of REO, either pre- or post-acquisition. For example, a Hawaii investor was foreclosing on an equestrian complex near Sallisaw, Oklahoma. We structured a pre-foreclosure sale that substantially mitigated potential loss and kept the lender out of title.

As with all our services, all upfront costs can be underwritten, or even waived, to further reduce client risk or meet other capital needs. These resources, as well as the inherent transparency of auction marketing, insure our fiduciary clients of the most successful real estate transactions possible.

For more information contact Elsa Lewis, Sr. Vice President National Sales Director elsa.lewis@williamsauction.com 918.250.2012 ext. 236