New Assets

Preliminary Order

On the 22nd day when the preliminary order is obtained, the following actions should be performed:

Verify access information is in TRACK.
Read stabilization report (includes initial inspection). Based on the read/review, actions may be required.
Check if utilities transferred. If not, set-up.
Set-up auto inspection.
Based on inspections be prepared to order maintenance or repairs for the following:
- Appliances
- Electrical
- Flooring
- HVAC
- Roof
- Pool
- Pest
Mold Remediation
Lawn Care
Winterization

*Property other than Real Property should trigger a call to the COR for disposition.

Final Order (includes Preliminary Order list)

ORE follows up with COR to ensure Tax notice is sent to taxing authorities about ceasing all taxes. We will pay delinquent taxes minus penalties up to FOF date.

Set-up for marketing/sale

Sales Clean (sweeping, mopping, etc)

Contact Controlling Entity about Non-Real Property

Trash out

Check if outstanding balance for HOA; Pay from the FOF on.

Led-based Paint:

If the asset was built prior to 1978 and expects to close within 270 days of the FOF date, a led-based paint assessment should be ordered at least 40 days prior to expected closing.
Additionally, if the assessment produces positive results fot led, and the assent was built prior to 1960, a led-based paint abatement is required.
If the asset was built between 1960 and 1977, provide the assessment to marketing for inclusion in the closing documents. No abatement is required.

**Notes:

In Chicago, water liens must be satisfied before closing; otherwise, the closing must not happen. If not, the water liens are added to HUD and USMS must sign-off.

Any work that exceeds $2500 must have 3 bids