Receivership Services
With experience working in a number of states and with a variety of property types, our receivers have developed networks of skilled legal counsel and other qualified real estate professionals who can be employed on an as-needed basis.
- Acting receiver in select assignments
- Client relationship management with special services, banks, insurance companies, note buyers and lender/special services legal counsel with appropriate Newmark resources
- Local receivership laws, rules and state statutes
- Nationwide attorney relationships
Lenders and special services in need of non-performing commercial loan services understand the benefits of working with an experienced receiver. Receivers have access to our full range of commercial real estate services to maintain and improve the asset value throughout the legal process.
Our services:
- Assess additional information needed to operate the receivership
- Gather and maintain all records, leases, plans, files and documents that are available
- Hire, bid and oversee the completion of any necessary capital improvements
- Hire leasing resources to negotiate and modify leases at property as necessary to stabilize and enhance value
- If necessary, challenge real estate tax assessment for the property
- Keep all parties informed through required reporting to the courts and other requested reporting by parties
- Move quickly to take control of the rents and expenses at the property
- Prepare accounting in the required format for the property to keep all parties informed
- Provide market and property information
- Regularly prepare and update property budgets
- Stabilize and physically maintain the property per the receivership order
- Work with local governmental authorities to resolve any outstanding permit of entitlement issues
- Work with parties to assist in settling title issues plaguing the property
