Settlement Agent Services

In the simplest possible terms here is a blow by blow description of the fundamental aspects to management of an asset.

Asset reverts back to investor.

Investor designates asset management company and/or settlement agent (in the case of judicial foreclosures the settlement agent is often an affiliate of the firm that handled the foreclosure action) and/or listing agent

Asset management company designates settlement agent and/or listing agent. Asset manager and listing agent begin preliminary research and assessment. PSP is retained, often by the settlement agent, to conduct unrecorded property debt research for municipal or county fees, open permit research, code enforcement research and association estoppel information as part of their closing due diligence. In many cases this occurs well into the timeline after a substantial length of time may already have passed.

It may now be many months later and no one may have actually obtained a proper estoppel so steep fees continue to mount, or perhaps someone did obtain one estoppel but was unaware of an additional association therefore only partial information may have been obtained. No one may know that a violation for bulky waste placed during the eviction exists and is going before a board of commissioners so that it may become a recorded lien and the property next door, also possibly in foreclosure, may have obtained the water/sewer diverter device (purchased at your local big box hardware store) and could be stealing water service.

The opportunity exists to avert these unsustainable expenditures early on.