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.

$590,000
5 Beds ⋅ 3 Baths ⋅ 1355270 MLS
This 5BR/2.5BA, 2,840 sq. ft. home is on a quiet cul-de-sac in Hayden Hill Subdivision. Located in the heart of Hardin Valley. Built in 2023, the all-brick exterior gives the home great curb appeal. The primary suite on the main level allows real convenience and lends to a multi-generational style living if needed. The main living area brings everyone together with a comfortable living room anchored by a gas fireplace, a dining space that easily fits a large family. A well-appointed kitchen with a large island, quartz surfaces, and plenty of storage. Upstairs, there are four additional bedrooms and a flexible bonus space provide room to spread out, work from home, or plenty of guests.. Just out the back door you find a covered back patio and yard that make grilling, play area for the family, or quiet evenings outdoors easy to enjoy and private. An attached 2-car garage adds practical storage and easy access. Hayden Hill provides sidewalks for family walks, a great play area for the kids and a covered picnic area along with a private community pool and covered gathering place, This home is just minutes from Hardin Valley schools, shopping, dining, and Pellissippi Community College and the Pellissippi Parkway. It's a comfortable, move-in-ready option in a highly desirable West Knoxville area, that is convenient to shopping, entertainment and so much more.

2714 Green Ash Lane, Knoxville
$735,000
2 Beds ⋅ 5 Baths ⋅ 1355082 MLS
Mountain views, 1.33 wooded acres, and a documented short-term rental history. This furnished 2-bedroom, 3.5-bath log cabin in Pigeon Forge is commercially classified for short-term rental use and sleeps 10 comfortably. The previous rental program has ended, but booking records from October 2025 through early August 2026 show 45 stays, 185 booked nights, and $52,262 in rent, giving buyers a documented baseline for its potential. Booking detail available on request. Inside, cathedral ceilings, exposed beams, and wood-paneled walls set the tone, and two stone gas-log fireplaces keep things warm on cool mountain evenings. The main-level primary suite has a private bath with dual vanities. Upstairs, the loft has an air hockey table, extra sleeping space, and its own balcony. Downstairs, the finished lower level has a rec room with a pool table, a second bedroom with a full bath, a full bath and laundry off rec-room and access to the hot tub on the covered deck. About 855 square feet of upper and lower decking gives plenty of room to spread out and take in the views. Metal roof, off-street parking, and no HOA, with the Parkway, Dollywood, and Great Smoky Mountains National Park a short drive away.

Pigeon Forge
$499,900
1354866 MLS
Private secluded mountain retreat gorgeous views from the front porch. If your looking to have a big family event and unplug this would be the ideal place. NEW Stainless Steel appliance package installed Add your personal touches to this beautiful log home make it your own and/or do weekly rentals. Some photos are staged virtual photos All offers to be placed at www.propoffers.com Technology Fee of $200 + taxes collected at closing to winning agent Buyer to verify all information.

2875 E Walnut Grove Rd, Sevierville
$125,000
1354300 MLS
Two story duplex on 6,098 sf lot. Lot of work needed. Fixer upper with potential for income. RESERVE AUCTION PROPERTY- Property sold ''AS-IS'' without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

408 Gaines St, Kingsport
$659,900
3 Beds ⋅ 3 Baths ⋅ 1354196 MLS
Stunning and COZY 3 bedroom , 3 bath cabin on large lot. OPPORTUNITY HERE!!! This fabulous well designed unit offers all the comfort of home and all the Great Smoky Mountains National park area has to offer. Wood burning fireplace, large deck, HANDICAP accessible, master on the main level, large eat-in kitchen area with island, fire pit out back. Come and experience what mother nature has to offer with all the conveniences of home. Close to all the attraction, eateries, water parks, shopping & Dollywood. 'Purchasers may use any lender they chose to finance the purchase of a property. However, the seller requires that all NON-CASH offers must be pre approved. For the free pre-qualification call listing agent for contact information. Newly stained deck, along with a NEW patio off lower kitchen at the rear. *** All offers must have proof of funds either with bank letter or funds available letter from there bank. All offers to be submitted by buyers agent thru www.propoffers.com

1425 Nicoha Blvd, Sevierville
$299,900
3 Beds ⋅ 2 Baths ⋅ 1354025 MLS
Come take a look at this updated home! Includes new lvp flooring, new HVAC, fresh neutral paint, new water heater, new electrical panel, new stainless stove and dishwasher, new countertops, and new lights. This property is being sold as is. Buyer to verify all information to their own satisfaction.

10024 Rutledge Pike, Corryton
$484,900
3 Beds ⋅ 3 Baths ⋅ 1353887 MLS
This spacious log-style home in the Marble Bluff subdivision offers rustic, yet modern charm. Enjoy the large kitchen with granite countertops and gas cooktop, a vaulted living area with exposed beams, and an open loft. The interior is finished in warm wood throughout. The basement provides a garage, workshop area or additional storage, PLUS expansion opportunities which could easily include a multi-generational separate living quarters with it's own separate entrance. The 1.36-acre lot offers mature trees, privacy with wooded surroundings and a gently rolling landscape PLUS lake views. There is a large sunroom on the back of the home and the primary bedroom is on the main level. The laundry room is HUGE! And don't forget the 3/4 wrap around porch with ample space for rocking chairs and porch swings. While the home has many beautiful features, it could use some repairs--ideal for someone ready to bring it back to its full potential. Schedule your showing today and imagine the possibilities! Buyer to verify all information including square footage. Some photos have been virtually staged.

135 Marble Bluff Drive, Kingston
$250,000
3 Beds ⋅ 2 Baths ⋅ 1353776 MLS
Recent updates give this three-bedroom, two-bathroom Knoxville home a solid head start, while a few remaining repairs leave room to add value and personal style. The practical layout can accommodate everyday living, guests, a home office, or tenant needs, making the property worth considering as either a residence or rental. Outside, the yard offers space for gardening, relaxing, or creating a more finished outdoor retreat. The location adds convenience, with Third Creek Greenway Park, the University of Tennessee, and downtown Knoxville nearby. Rather than taking on a complete reinvention, buyers can focus on thoughtful finishing touches--and perhaps keep the toolbox from working overtime. Explore the possibilities and schedule your private showing today.

4209 Van Dyke Drive, Knoxville
$210,000
4 Beds ⋅ 3 Baths ⋅ 1353349 MLS
Spacious Home offers 4BDR/3BA in the heart of Rocky Top.. Per CRS 2255 square feet, built in 1900, has detached garage 22x24 and sits on .22 acres/buyer to verify. This is Fannie Mae HomePath Property!

406 Church Ave, Rocky Top
$179,900
2 Beds ⋅ 1 Baths ⋅ 1353272 MLS
Adorable cottage recently updated has tile and wood laminate flooring, spacious kitchen with island, stainless range and dishwasher. Oil rubbed bronze faucets, fixtures and hardware throughout this lovely home. Kitchen has can lighting. Livingroom - Kitchen, Dining combo. Laundry-room. Bathroom has a walk in shower, tile flooring. Wrap around deck with views of the countryside. This home will not last long. Property must be on market for 7 days prior to any offers being reviewed. Property sold as is all inspections will be for buyer knowledge.

1115 Back Valley Rd, Lafollette
$179,900
2 Beds ⋅ 1 Baths ⋅ 1353088 MLS
This charming home is tucked away at the top of the peaceful Corpening Hills subdivision, offering beautiful views of the surrounding rolling hills and mountains. Enjoy the scenery from inside the home or step outside onto the back deck and take it all in. Sitting on a nice, level lot and offered at an attractive price, this home is a great opportunity for a first-time buyer, someone looking for a permanent home, or an investor searching for a potential income-producing property. The location offers the best of both worlds with a quiet, peaceful setting while being just minutes from downtown, shopping, restaurants, and the mall. Whether you're looking for a place to call home or your next investment opportunity, this property deserves a look. Don't wait--call the listing agent today and schedule your private showing! All offers and counteroffers must be entered on propoffers.com by the buyer's agent directly. The buyer's agent is to pay a $200.00 technology fee at closing of any accepted offer Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. EMD on cash deals will be 10% of purchase price

2767 Conrad Drive, Morristown
$210,000
3 Beds ⋅ 2 Baths ⋅ 1352174 MLS
Welcome to this home offering 3 bedrooms and 2 bathrooms with a practical layout and plenty of space for everyday living. The property features a garage and sits in a convenient Surgoinsville location, providing a comfortable residential setting with easy access to area amenities, major highways, and Rogersville. The spacious floor plan offers flexibility for a variety of needs, while the garage provides valuable storage and parking space. Whether you're looking for a place to call home or an investment opportunity, this property offers a great combination of space, functionality, and location. Schedule your showing today and take a look at all that this home has to offer!

314 Wood Lane, Surgoinsville
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