Owning commercial real estate is a lucrative endeavor. It creates a passive income stream that benefits the owner/borrower and the lender. When times are good, landlords reap the rewards of steady tenants and well-kept properties. Lenders receive their payments plus interest. It is a win-win for both parties. When things go wrong, as they sometimes do, and a borrower falls behind on their mortgage, lenders may take the necessary action to mitigate loss and start foreclosure proceedings. They want to protect their interest in the property and may request another company to come in and take over control.
Preserve the integrity of your commercial real estate and ask for The Estes Group to be your court appointed receiver. Our team is one of the few management companies in the southeast able to provide this service to lenders and courts. We believe in an open and transparent relationship with all the parties involved.
Once a court-appointed receiver is tasked with handling a distressed property, there are many different responsibilities involved. While this list is not extensive, it gives you an idea of the importance a receivership has over a piece of real estate:
Let the team at The Estes Group take over the day-to-day operations of your distressed investment properties through a court-appointed receivership. We strive to add value where possible, with an extensive assessment of the property in question and detailed monthly reports. You will know exactly what is going on when you work with us. Our team primarily works in Mississippi; Tennessee, Louisiana and Alabama.
Find out more about how court-appointed receiverships work. Call us at 601-362-9633 or contact us online to discuss your real estate goals.