RECEIVERSHIPS

Receivership Services Brochure

What people are saying about Ackermann Group

About Receiverships

Although it would be great if the services of a receiver were never needed; these services are required despite peoples’ best intentions and efforts. Ackermann Group’s experience coupled with its management systems, market knowledge and relationships can serve as a successful solution to the job at hand.

When a property goes into foreclosure, time and time again the bank and court have chosen to entrust their properties to Ackermann Group due to our commitment, expertise and proven abilities. We have experience with local and national banks, spreading over the entire Kentucky and Ohio region including US Bank, Beal Bank, Bank of America and First Financial Bank.

With over 60 years experience in commercial and residential property management and having been previously named receiver for numerous properties, we believe the qualifications to be named receiver for any property is evident. A few of our current receiverships include vacant land, vacant lots, vacant and occupied apartments and apartment communities.

Ackermann Group is your one stop shop for receivership properties. Not only can Ackermann Group provide receivership services, we are also experienced in all facets of commercial and residential property management.

Mission

Ackermann Group aims to position all properties for long-term stability while maximizing cash flow. Ackermann Group will provide superior service by controlling operational costs while effectively managing your property. Ackermann Group recognizes individual needs and believes the means to our success is through good communication, prompt responsiveness, professionalism and commitment.

Our Receivership Services Include:

Consulting
• Valuations: partner with real estate broker to determine potential recovery
• Property & Financial Assessments: make a hands-on assessment of operations, its
competitors, location and profit and loss statements.

Seizure of Assets

• Bank Accounts
• Cash Banks
• Petty Cash
• All other monies and Securities

Court Reports

• Assisting counsel in preparing the ‘Order Appointing Receiver’ to assure the court addresses all contingencies in the first hearing, and to avoid repeated trips.
• Preparing and filing all Receiver’s documents and servicing all appropriate
  parties. These include opening, interim and closing reports.
• Contract negotiations or termination, as appropriate
• Upon foreclosure, quickly winding up the receivership, preparing the final
  accounting, transferring licenses and franchises to the new owner, preparing and filing final reports, and securing the courts approval and discharge.

Sales Contract Services

• Review and analyze all contracts to ensure accuracy and completeness of offers
• Provide sales offers and accurate overview of contract terms and conditions in the form of a “Net” sheet as required by clients.
• Provide communication in a timely and accurate manner to all parties involved in negotiations.
• Property marketing
• All property information can be detailed and include complete directions.

Customized marketing plans that include:

• Email notification and advertising
• Print advertising
• Detailed and Documented closing process
• Clarify closing documents for all parties
• Assemble appropriate parties for closing and ensure accuracy of all closing documents
• Attend closing and collect/distribute proceeds, if required
• Distribute all closing documents to appropriate parties

Additional Services

• Quick bond ability
• All locks are re-keyed or changed within 24 hours of receiving the property
• Securing doors and windows with board-up if necessary
• Tax appeals and recommendations
• Loss mitigation and pre-foreclosure workouts
• Initial vendor and tenant notice and sign posting
• Oversight of property management activities