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Special Assets |  Printable Version |
Special Asset Advisory Services | 
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Assistance Throughout the Special Asset Continuum.
- When the debtor begins to appear distressed, Marcus & Millichap provides accurate real-time market values of the underlying collateral to help lenders decide whether to proceed with foreclosure or explore workout options.
- After the debtor defaults, Marcus & Millichap guides lenders and their counsel regarding property values and market trends before a foreclosure suit is filed.
- If the lender chooses to file a foreclosure suit, Marcus & Millichap works with lenders and counsel to explore alternatives such as debtor cooperation and note sales.
- After the lender receives a judgment, Marcus & Millichap creates marketing collateral and begins the buyer identification process to ensure a quick sale after fee simple title is issued.
- Marcus & Millichap guides lenders and counsel on property valuations leading into foreclosure auctions to ensure beneficial bids are not rejected.
- Once fee simple title is issued, Marcus & Millichap immediately begins marketing the property to ensure the disposition of assets by making a market which generates the highest price and quickest close possible.
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Experience is the Difference when History Repeats
Because of the time which has elapsed since the Savings & Loan crisis, few experienced workout and REO professionals are left in the industry. With the increased workload in the pipeline, Special Asset Departments are becoming overloaded and inefficient. The Marcus & Millichap Special Asset Advisory Services’ leading team members bring over one hundred years of real estate experience with specific knowledge of the Special Asset Continuum.
Marcus & Millichap was instrumental in assisting with Special Assets through the early 1990's with the RTC and many lenders to dispose of assets at maximum values. Our experience tells us that lenders benefit most when they can stay ahead of the curve from the first missed payment to the eventual disposition of the asset or real estate. Because these assets are collateralized, the value of the underlying property is instrumental in making intelligent business decisions at the speed required in today’s business climate.
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With 65 offices and over 1,300 specialized agents nationwide, Marcus & Millichap's information-sharing culture is opened up to lenders through Special Asset Advisory Services. Lenders enjoy a single point of contact through which they can access real-time market data, research and valuation services for any product type in any market throughout the United States without having to comb individual markets for representation or expertise. Forging a solid relationship with Marcus & Millichap allows service continuity and standardized processes to streamline the handling of Special Assets.
Click here to contact Special Assets Advisory Services Looking through the Windshield
Lenders are often frustrated with the 'rearview mirror' nature of the appraisal process which uses comparable sales to establish values of properties in the future. Additionally, appraisers are often unable to discuss market conditions looking forward since they lack proprietary knowledge necessary such as bid/ask spreads, owner motivations and expectations, expense trends and more. Appraisers often gain this data second-hand by speaking to agents long after sales have closed and been recorded. Marcus & Millichap, because we close more investment sales than any other firm, is in the position to bring real-time market information which affects the value of real estate from the front lines directly into the lender's office.
Click here to contact Special Assets Advisory Services Exploring All Options
Because of Marcus & Millichap's experience in this field, we can explore all options available to lenders creatively and extensively. Coordinating with willing borrowers, consulting on note sales and establishing management or leasing strategies are just a few areas where Special Asset Advisory Services can save lenders both time and money. Marcus & Millichap understands the nuances behind handling a wide range of difficult issues from warranty concerns on failed development projects to CERCLA liability issues to multi-lender coordinated actions. Establishing a relationship with Marcus & Millichap Special Asset Advisory Services allows lenders to truly leave no stone unturned in their quest to maximize return and minimize liability.
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