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The Elia Group is a trusted resource for diverse residential and commercial real estate management, development and investment solutions in major metropolitan areas nationwide. Our success is built upon an unwavering commitment to excellence in the work that we produce, operating with honesty and integrity and investing in our employees to help them realize their professional potential. These core elements are essential in pursuit of our goal to attain and maximize value for our company, our partners, our investors, our customers and the communities that we serve.
preREO is an online marketplace that connects local real estate investors with lenders looking to sell delinquent first mortgages secured by vacant properties. Lenders often struggle to take care of hundreds or even thousands of preREOs scattered across the country and are willing to sell these at sizable discounts to market values. preREO investors can take control of these assets during the foreclosure process, including repairing and leasing out, to maximize investment returns. WHAT IS A preREO? A preREO is a delinquent first mortgage secured by a vacant property. Our preREO process expedites the liquidation of NPL assets and maximizes lender recoveries. THE preREO SOLUTION Lenders sell preREOs to local investors who appoint receivers to take control of the preREO during the foreclosure process. Court orders can empower receivers to repair, lease out and collect rent during the foreclosure process. The costs of code enforcement compliance, property preservation, vacant property registrations, vandalism and property deterioration are replaced with income during the foreclosure process. preREO BUYER STEPS 1. Register at preREO.com 2. Search inventory and identify properties of interest. 3. Make offers and communicate with lenders through the preREO platform.
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