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Repossession
Orion provides a bespoke, hands on repossession service for lenders, solicitors and any one else involved in the lending process, where they deal with the repossession and disposal of property.
Where there is a defaulting borrower and there are no further options to recover the loan monies, repossession may be your next course of action. Orion can provide you with a repossession package whereby we will take away all the management and time hassle in dealing with the taking of physical possession and disposal of a property.
There are three main elements to this service and you can engage Orion for all three or any one independently. The three services are Pre-possession, Day of Possession and Disposal.
Pre-Possession
Orion is in a position to provide you with key information prior to taking possession. Sometimes you may need an indication of where exactly the property is located, if the property is occupied and who is in occupation, an external inspection of the condition of the property, the accessibility for locksmiths to secure it and a possible indication of the likely expected sale price. This pre-possession service may help with your decisions and any legal process.
Day of Possession
We will meet bailiffs at the property and arrange for the locks to be changed, the property to be secured and the services to be drained.
We will then provide you with a brief report on the property to include its physical condition, its location and any alternative uses, along with the all important indication of value and marketing appraisal. We look at each property with a commercial view in order to achieve the extraction of maximum value. We will also identify the most effective method of sale and the most appropriate agents to sell the property.
Disposal
Unlike many of our competitors, we are independent and have no panel of national agents who will automatically get the instruction due to the fact that they are a fully paid up member of our panel. We ensure that the best agent for each property is instructed to sell the property whether that be for geographical reasons or experience with selling that type of property.
Orion will negotiate the lowest possible fee with the chosen agent(s) and will deal with them in all discussions and negotiations. Orion will keep in regular contact with the agents to ensure that everything is done to achieve the best possible price for a property. We will carry out our own inspections and will advise if any works of improvement or waste clearing are necessary in order to improve the aesthetic appeal of the property.
