REO Assets: The Perfect Storm - Avoiding the Reefs

6.4.09

Events

Venue: Riverside, California

Camellia Schuk participated in a panel discussion targeted for lenders who have become real estate owners. 

The discussion topics included:  

• What are the pitfalls of owning a real estate asset that is encumbered by a CFD whose improvements are not complete?
• Now that the lender owns the property, has stepped into the shoes of the declarant and is the default president of the HOA, what’s next?
• How to  identify and manage a gauntlet of potential issues – including expiring entitlements, incomplete common areas, delinquent assessments, and warranty and/or defect claims – in order to come out the other side with a residential, industrial-for-sale or office condominium project that pencils?

The program also covered commercial and income REO property issues, relative to leases, subordination agreements/SNDA's, insurance, environmental issues, deferred maintenance, and capital improvements.