FAQs for Noteholders
We can often set an auction date for a residential property within 4 weeks, and a commercial property within 6 weeks. Sometimes sooner! We would need to read the Deed of Trust on the specific property to determine an accurate time frame. Be assured that once we sign the contract, we start the procedures right away to get the property sold as quickly as possible. It will then typically close in 30 days after the auction.
We quote a set price for the entire process to include legal fees and marketing costs. Once we negotiate a rate, that will be the rate. No overages. No extras. No commissions. No surprises.
By covering all bases in advance of the sale. We ensure legal compliance, execute an aggressive marketing campaign and qualify buyers . . . it’s all done in advance of the sale. We then hold a simulcast auction, allowing buyers to bid live or online, creating more participation at the auction.
We have sold everything from the State Fairgrounds for $5,671,000 to OBX Condos at $1,931,930 to a milking barn for $434,500 to a brick rancher at $205,150. Check out our Results page for more information on the scope of projects we have handled over the years. We can handle a property in any price range.
We sell single homes, commercial properties, multifamily, and portfolios of assets of any kind. See our Results page for more information on the types of properties we have handled.
We have a nationwide network in place and can handle foreclosures in any state.
The trustee sale will be a public auction, open to all buyers. Through targeted advertising, we create competition among buyers in advance of the sale. Qualified buyers, who have registered to bid and have made the required deposit, come prepared to bid on the day of the sale.
ABSOLUTELY. The financial company can set a confidential reserve in the amount needed to achieve in order to sell the property. Your Fortis professional will provide a market analysis on the property and make a recommendation as to the expectation of auction sale results.
Our company utilizes over 50 years of experience in all areas of asset disposition. With the trusted Motleys Legal Team providing fully compliant legal services and Motleys Real Estate Team conducting a widespread marketing campaign, Fortis provides services that have proven to limit the growth of OREO assets.
Also, we offer one stop foreclosure services. We will work with you to determine the confidential reserve price, and then handle it from there. We will take care of all aspects of the transaction, getting you back to banking!
“Thank you and your team for a job well done regarding our 2 properties and successful outcome of the foreclosure sale. I was very pleased with the aggressive advertising campaign and the large number of interested buyers you generated. It was a pleasant surprise to have the bank whole on this deal and our customer happy as well. Your process was truly good for the bank and good for our customer. I would recommend your service to any institution requiring foreclosure services.”
William P. Sage, Ill, Executive V.P. & CEO, Farmers & Miners Bank
“I personally recommend Fortis to any financial institution that is looking to dispose of non-performing real estate assets.”
Danny Cobb, Bank of Hampton Roads