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    Commercial Receivership Services

    As you can see by reviewing the experience of its principals, The Steele Group has the skills to perform all of the essential functions of a receiver, conservator or liquidator of real property of all types. These skills include the following:

    Typically, distressed properties require immediate repairs and attention to deferred maintenance. Action must often be taken quickly to prevent further depreciation of the property. The experience of The Steele Group and its contacts within the communities in which it operates enable it to address repair and maintenance issues in a timely and cost effective manner. The Steele Group has personnel with extensive experience in recognizing such issues and addressing the issues expeditiously and without excessive or unnecessary expense.

    Often troubled real estate assets are wholly or partially occupied by tenants. In some cases, it will be desirable to find new or additional tenants to occupy the property during the pendency of the receivership or conservatorship. In either event, that will necessitate having a receiver or conservator that understands how to market the property to prospective tenants and how to serve those tenants after they have occupied the premises. The Steele Group has the knowledge, experience and skill to market and administer leases of residential, commercial and industrial property in a timely and cost effective manner.

    Frequently the duties of a receiver or conservator include the timely collection of rent and other income generated by the property. It is important that the receiver or conservator have experience and expertise in collecting rents when due and taking timely and appropriate actions when the rents are not paid when due. The Steele Company has a proven track record of being able to take such actions effectively.

    It is important that a receiver or conservator have the knowledge and resources to accurately account for the income generated by the troubled real estate and that such accountings are rendered in a timely manner. The Steele Company has the ability to meet all of the requirements to assure that accountings are accurate and timely and meet all of the needs of the lender as well as any requirements of any court having jurisdiction of the property.

    In many cases, the receiver or conservator will have a role in marketing the property for sale in addition to its duties to preserve the property. The Steele Company has a distinguished record of effectively marketing all kinds of properties, including residential, commercial and industrial. Its roots in the community and the respect that it has earned in the communities in which it operates give it the tools it needs to perform this part of its duties in an effective manner.

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