REO & Asset Management

Precision From Takeover to Disposition
Built for every market. Exceptional in complex ones.
We bring asset-level intelligence, disciplined process, and transparent reporting to every REO file.

REO isn’t a listing — it’s a business plan.
Pace Probity Asset Management (PPAM) delivers full end-to-end, compliance-driven REO services for banks, servicers, hedge funds, and investors.

We treat each file like a P&L:

  • Protect the asset
  • Accelerate marketability
  • Reduce liability
  • Maximize net proceeds

Core Services

Valuation & Strategy

  • Interior/exterior BPOs
  • CMA
  • Market strategies
  • Value-add analysis
  • Hold/sell scenarios
  • Repair-vs-as-is modeling

Occupancy & Transition

  • Occupancy checks
  • Respectful occupant outreach
  • Cash-for-Keys coordination
  • Timeline & transition tracking

Preservation & Compliance

  • Securing & rekey
  • Debris removal
  • Winterization
  • Safety & code compliance
  • HOA / utility coordination

Repair Management

  • Scope creation
  • Competitive bid management
  • Vendor oversight
  • Photo documentation
  • Draw approvals
  • QC inspections

Marketing & Disposition

  • Rapid MLS launch
  • Investor & retail syndication
  • Professional media
  • Auction alignment
  • Bulk-sale options

Offer & Contract Management

  • Counter strategy
  • Repair credit evaluation
  • Buyer qualification
  • Timeline management
  • Closing coordination

Reporting & Audit Trail

  • Milestone updates
  • KPI dashboards
  • Expense logs & receipts
  • Before/after documentation
  • Complete file integrity

Our REO Process (At a Glance)

1. Assignment & Intake

  • File review
  • Deed/record checks
  • Code/HOA research
  • Risk flags
  • SLA: Acknowledgment in 4 hours; intake summary in 1 business day.

2. Stabilize the Asset

  • Occupancy verification
  • Secure/rekey
  • Utility strategy
  • Safety hazards addressed
  • SLA: Occupancy check within 24–48 hours.

3. Valuation & Plan

  • Interior/exterior BPO
  • Repair scope & budget
  • Days-to-market projection
  • Price strategy
  • SLA: BPO + plan within 72 hours of access.

4. Preservation & Repairs

  • Trash-out
  • Cleaning
  • Landscaping
  • Code compliance
  • Targeted improvements
  • SLA: Work orders within 24 hours of approval.

5. Market Launch

  • MLS within 24 hours
  • Professional photos
  • Syndication
  • Weekly feedback

6. Offer Management

  • Buyer qualification
  • Net analysis
  • Timeline enforcement
  • Attorney/closing coordination

7. Closing & File Close-Out

  • Final meter reads
  • HOA clearances
  • Occupancy verification
  • Audit-ready file package

Key Performance Indicators (KPIs)

  • Assignment → Access → List timeline
  • List-to-contract cycle time
  • Contract-to-close cycle time
  • List-to-sale variance
  • On-time milestone percentage
  • Bid-to-invoice delta

Compliance & Risk Controls

  • SLA adherence
  • Photo-verified work orders
  • Invoice + receipt reconciliation
  • Code/HOA/utility communication logged
  • Compliant CFK/transition practices

We manage assets with probity—truth, transparency, traceability—so your audit becomes a formality, not a fire drill.

Coverage

We operate across half the state with vetted vendors and real market intelligence.
Ask about expedited launch in priority counties and bulk disposition solutions.

Institutional Seller Solutions

  • Portfolio analysis
  • Bulk / mini-bulk sale strategy
  • Auction partner alignment
  • Reserve pricing recommendations
  • Centralized reporting
  • File-level drill-downs
  • Program-level insights

Private Investor Solutions

  • Fast valuation/BPO
  • Rent-ready vs. flip strategy
  • Light–moderate construction oversight
  • Retail + wholesale marketing
  • Repeat-seller optimized workflow

Frequently Asked Questions

What is REO?
Real Estate Owned (REO) refers to lender/investor-held property after foreclosure.

How fast can you launch?
MLS in 24 hours once the asset is ready. SLAs begin immediately upon assignment.

Do you handle repairs?
Yes—scope, bids, contractors, QC, documentation.

Do you support bulk sales?
Absolutely. We evaluate retail, investor, and auction channels for net + speed.

Ready to Engage?

  • Investors: Request a sample BPO & timeline
  • General: Contact Pace Probity Asset Management
  • Prefer a direct introduction? We'll assign a single point of contact and launch your file today.

473 Church Drive, Lenoir City
$190,000
4 Beds ⋅ 3 Baths ⋅ 1360734 MLS
4 bed, 3 bath basement ranch on a 0.73-acre corner lot inside Lenoir City limits. The main level has a bright living room with a large picture window, laminate flooring, a dining area with French doors, and a kitchen with white cabinets, stainless range and breakfast bar. The lower level adds living space with additional rooms and plumbing, and walks out to a covered deck. Outside you'll find a fenced backyard with an in-ground pool, a storage shed, a 2-car garage and a carport. Public water and sewer. Sold As Is.

473 Church Drive, Lenoir City
520 Burns Rd, Knoxville
$219,900
4 Beds ⋅ 2 Baths ⋅ 1359714 MLS
5.12 Acres with a Basement Rancher home located off Rutledge Pike. Has original hardwood floors. Was previously remodeled at some point. There is a 2nd kitchen in the basement.

520 Burns Rd, Knoxville
120 Hillwood Drive, Harriman
$159,900
3 Beds ⋅ 2 Baths ⋅ 1359625 MLS
Cute 3 Bedroom and 2 bath home. Property is in need of Repairs. Being sold as is. Convenient to I-40 and Knoxville.

120 Hillwood Drive, Harriman
3906 Luwana Lane, Knoxville
$209,900
3 Beds ⋅ 2 Baths ⋅ 1359440 MLS
Charming three bedroom, two full baths, large living room, covered front porch. The large detach garage has a one bedroom, one bath apartment that can be a real bonus as possible income of for a family member. The large dining / kitchen combo area is prefect for the growing family. Convenient to all of downtown, I-640 & I40 E & W. Home feather laminate flooring, stainless appliances, deck at the rear, fenced back yard for the children and animals, oversized detached garage with separate electric and water heater ---- A REAL PLUS. Local Community pool within walking distance and golf course three minutes away. All offers to be placed by the buyers agent at www.propoffers.com. The winning agent will pay a $200+ tax fee at closing. (Technology Fee). Technology fee- $212.00 payable to Radian REM LLC - mail to PO Box 781278 Philadelphia, PA 19178- paid by seller

3906 Luwana Lane, Knoxville
131 Johnny Baird Lane, Jacksboro
$226,000
2 Beds ⋅ 1 Baths ⋅ 1359321 MLS
Rancher home in Campbell County at the end of a road. Home features a small covered front porch, carport, level lot, mature tree offering shade in the front yard. Bring your hammer and sweat some equity into this great rental or first time home purchase.

131 Johnny Baird Lane, Jacksboro
2336 Breezy Rd, Sevierville
$693,200
3 Beds ⋅ 4 Baths ⋅ 1359081 MLS
Mountain Crest -This spacious property features a private setting, three bedrooms, three and a half baths, and an open floor plan. Highlights include front and rear decks, a hot tub, all-hardwood floors, vaulted ceilings, an island bar in the kitchen, and a pass-through indoor/outdoor fireplace. The main level includes the master suite, while the upper level features two additional bedrooms and a children's game area. The interior theme is entirely Dolly. The property comes fully furnished and is ready to be enjoyed as a personal home or used as an income investment rental. Please note that all offers must be submitted by the buyer's agent at www.propoffers.com. There is a $200 tech fee plus tax due from the winning buyer's agent at closing.

2336 Breezy Rd, Sevierville
141 White Lane, Caryville
$42,900
2 Beds ⋅ 1 Baths ⋅ 1359004 MLS
The Diamond in the haystack you have been in search of. Once in a lifetime opportunity cute basement cottage. Main level has 952 SF., basement access inside the house with walkout access also 952 SF. Semi-Finished and there is a bathroom on each floor. Sits on .81 of an Acre. All offers to be placed on by selling agent at www.propoffers.com The successful bidder will pay at closing a $200 Tech fee plus taxes. Please contact Donald prior to placing your offer for instructions.

141 White Lane, Caryville
5329 Fountain Gate Rd, Knoxville
$559,000
4 Beds ⋅ 3 Baths ⋅ 1357700 MLS
This all-brick, two-story home with a two-car garage is located in the highly sought-after Fountain Gate subdivision. The private backyard features a stunning pool, a relaxing water feature, and two gazebos--perfect for entertaining or unwinding in peace. The main level boasts an open-concept living room and kitchen, an office space, a formal dining room, a laundry room, and a guest bath. Upstairs, the primary suite includes a walk-in closet, double vanity, jacuzzi tub, and walk-in shower. Three additional bedrooms, a full bath, a bonus room, a kitchenette, and a balcony overlooking the pool complete the second level. Designed for both entertaining and relaxation, this home offers the best of both worlds. Schedule your tour today!

5329 Fountain Gate Rd, Knoxville
118 W Moody Ave, Knoxville
$135,500
1 Beds ⋅ 1358714 MLS
A full-scale renovation opportunity, this 1,099-square-foot Knoxville house has already been gutted, giving buyers a clear foundation for redesigning the interior from the ground up. The single-level footprint offers practical flexibility for planning new living spaces, selecting finishes, and shaping the property around current needs. With the University of Tennessee nearby, the location may interest investors evaluating future rental income, as well as experienced renovators or hands-on buyers ready for a substantial project. Fort Dickerson Park and Ijams Nature Center provide nearby options for trails, scenery, and outdoor recreation. Bring your contractor and renovation plans--this one is not a paint-and-patch weekend. Schedule a private tour today.

118 W Moody Ave, Knoxville
2807 Teaberry Hill Way, Sevierville
$584,950
2 Beds ⋅ 2 Baths ⋅ 1358630 MLS
Contemporary and rustic - all at the same time in a private, 2.5 acre wooded setting. Exterior is stone and wood offering a large deck on the main level, tall ceilings, tons of natural light, covered patio on lower level, stone electric fireplace, finished basement with 2 bedrooms and 2 full baths. Property can be on a vacation rental program or keep it all for yourself. Some images in this listing have been virtually staged. We can supply a professional 3 yr revenue projection suppled by Legendary Vacations which was independently calculated and supplied.

2807 Teaberry Hill Way, Sevierville
7001 Washington Pike, Corryton
$549,000
4 Beds ⋅ 2 Baths ⋅ 1357432 MLS
Welcome to 7001 Washington Pike! This versatile property offers plenty of space, thoughtful updates, and a separate guest home--all situated on approximately 1.22 acres. The main home features 4 bedrooms and 2 bathrooms, along with a beautifully renovated kitchen and updated baths. The primary bedroom includes a walk-in closet, while the spacious layout provides plenty of room to spread out. Downstairs offers even more possibilities, with additional living space that could be used for entertaining, a recreation area, home office, or potentially configured for multigenerational living. With two screened porches, there are also great spaces to relax and enjoy the outdoors. What really sets this property apart is the detached 2-bedroom, 1-bath guest house with approximately 864 square feet. Whether used for guests, extended living space, a home office, or potential rental income, it adds another level of flexibility to the property. With two separate living spaces, over an acre of land, and numerous updates, 7001 Washington Pike offers possibilities that are hard to find. Come see everything this unique property has to offer!

7001 Washington Pike, Corryton
424 Lakeview Drive, Crossville
$149,900
3 Beds ⋅ 2 Baths ⋅ 1357418 MLS
Three-bedroom, 2 bath home located on a corner lot in Fairfield Glade. Home features a large living room, den area, fireplace, wet bar and more! Fairfield Glade has a reserve fee of $6000 to be paid at purchase of a property. Buyer should verify all HOA fees, as those fees are subject to change.

424 Lakeview Drive, Crossville
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