Tranzon AP Continues Providing Solutions - SOLD - Sherriff’s Sale - Reynoldsburg, OH
February 7th, 2007 . by mcarey
Another successful auction! We thought this might be a good opportunity to highlight how Tranzon services the needs of clients who own and/or manage a nationwide real estate portfolio. Tranzon Auction Properties was employed by Keybank NA to implement a professional accelerated marketing campaign in order to supplement the minimal legal advertising that is usual and customary for foreclosure sales in OH.
Working with our partner, Tranzon Asset Strategies, we produced a high bid offer of $96,000. I know this isn’t the most astounding dollar figure you’ve ever seen, but understand that real estate in that part of the country is significantly less expensive than either coast. Add to this that foreclosure sales in OH are usually a fairly anticlimactic event culminating in the lender/mortgagee purchasing the property for the outstanding debt and bringing it into REO to maintain and manage for some indefinite amount of time before it can be sold through conventional means.
We have offered this supplemental service to our clients for many years and have developed a proprietary process that incorporates all parties involved in the foreclosure process including attorneys, sherriff’s, magistrates, etc…The benefit for a lender/mortgagee is that by supplementing the minimal legal advertising with a professional accelerated marketing campaign and producing and providing a comprehensive due diligence package to buyers, the lender can be assured that on the day of sale the property has been exposed to any and all interested parties and the high bidder is offering a fair market cash offer for that property.
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