In times of difficult market conditions, Nedra Halley, President of Dunlap & Magee acts as an independent third party individual appointed by the Court in the role of Receiver, while Dunlap & Magee provides the property management expertise.

Once the Receiver’s Oath and Bond have been filed with the Court, the Receiver will assume control of the property, meet with residents and vendors, obtain and review records from the owner and Management Company, and establish the operational, maintenance and accounting procedures and systems as may be appropriate.

Services include an initial takeover report including information gained from a property inspection, unit by unit inspections and file audits. During the Receivership period, monthly reports are filed with the court, and all specific responsibilities contained in the Order Appointing Receiver are accomplished. Upon foreclosure, Nedra Halley will prepare the final accounting for submission to the court requesting
approval and exoneration of the Receiver’s Bond.