Specialty inspection and verification services
Property Preservation Inspection Services
Once this happens then a visual inspection is followed by claims and documentation.
There are five types of property inspections
- Occupancy Inspections
- Initial Vacant Property Inspections
- Vacant Property Inspections
- Voluntary Pre-Conveyance Inspections
- Eviction Inspections
Occupancy inspections are required when a homeowner defaults on their mortgage payments, then the lender goes through the process of trying to contact the mortgagor by phone or correspondence to determine if the property is vacant or abandoned if the property is occupied a visual inspection will determine if the home has a for sale sign as well if the doors and windows are secured and the lawn is maintained.
Direct contact by telephone or Occupancy Inspection.
On the other hand if the home is vacant and abandoned, it is important to document if there is property damage, and then go through the process to initiate preservation to secure the property beginning with an Initial Inspection.
In the case that there is no monetary default, a visual inspection will determine if there has been a written notice of code violation, municipal lien, condemnation or demolition, disconnection of utilities or cancellation of homeowner insurance.
The home inspectors job is to verify occupancy from the following methods:
What should the occupancy Inspection report include:
The following should be considered such as the date of the occupancy inspection, the Identity of the inspector, how occupancy was determined, the identity and status of occupants, the valid telephone number for the occupant, documentation of house locked or secured, obtain broker name or contact number if there is a (For Sale sign) on the property, is the grass mowed or shrubs trimmed, describe any exterior damage such as broken glass, boarded up doors or windows as well as notation of personal property or debris left behind.
In the case that occupancy is not able to be determined some of the ways of checking would be to check utility meters, contacting the listing broker, observing general maintenance or speaking to neighbors.
Since a drive-by inspection may not be enough to determine occupancy an inspection report must be filled out.
reo property preservation companies
Property Preservation Jobs
Field Service companies hire field service representatives to do property inspection jobs with most of the work in property preservation and inspections.The record number of foreclosures on the market has some housing experts cashing in on the income potential by starting their own property preservation company. If you are looking at the current real estate crisis, and you are not interested in a start-up you can always work for an established national company who is hiring field inspectors all you will need is proper training.
National Companies Hiring:
- Safeguard Properties All independent contractors must fill out a vendor application.
- Safeguard is a turn-key resource for all aspects of property management, for Property Inspections, Property Preservation, Real Estate Owned (REO) Services, Property Valuations, Insurance Loss Inspections, High Risk/Code Enforcement, Vacant Property Registration, Title Services, Evictions and Hazard Claims Administration
http://www.safeguardproperties.com/Careers/Employment_Opportunities.aspx
- First American Default Management: on-site property inspections and property preservation and maintenance services. First American National Default Title Services (NDTS) division offers the mortgage servicing industry various default-related loan servicing activities.
http://www.firstam.com/news/2008/10799.html
Default Services Property Preservation
The economy has created a new set of skill set for those involved in real estate, one of them being default services, most national property preservation companies offer REO maintenance and repair to pre-foreclosures and banked owned real estate.
What are other services offered by national foreclosure preservation companies?
These custom solutions may include such things as title services such as title insurance and property reports, appraisal services and valuation, settlement and closing services, property management and on-site property preservation.
It may be more cost effective for the lender if they can work with one company that can provide all their real estate servicing needs.
Where can I find a list of national property preservation service companies?
The best way to get a list of companies is to go on the DMOZ Open Directory for Business, Financial Services, Field Service Companies:
Mortgage Contracting Services
Most national property preservation and inspection companies provide mortgage field services which include property inspections, property preservation, REO property maintenance, as well as valuation services.
Many national real estate asset management companies offer home improvement options to help reduce the time it will take for a property to go through resale. These types of jobs are done with before and after photos that can take one day up to a week to complete depending on the turn around time and size of the property.
Property and REO Maintenance Services
- Locksmith - fixing or replacing locks on doors
- Repair and remolding - fixing damages and structural changes
- Lawn Service - mowing grass and maintaining landscapes
- Lockout and Evictions - include filings, re-keying and property recovery
- Board and Securing - boarding up of windows and securing of doors
- Trashout and Debris Removal - cleaning, removal of items left behind
- Winterization and Plumbing - repair of pipes and frozen plumbing issues
- Swimming and Pool Maintenance - providing safety and cleaning unused pools
- Janitorial Services - home cleaning and maintenance
- Toxic Mold Treatment - cure mold moisture problems with testing and remediation
Who can use these services ?
Mostly the people who will need the types of services that most national property preservation services provide are Asset Managers, Lenders and Real Estate Professionals who need a team of trained field servicers to take care of pre-foreclosure, vacant and REO properties.
The foreclosure preservation services include: Debris removal, Boarding windows, doors, Fire damage repairs, Interior cleaning, Lawn maintenance, Lock changes, Lock re-keying, Mold Remediation, Hazardous material removal, Pool maintenance, draining, Rehab, Roofing, Water damage repairs, as well as Appliance replacements.
National Property Preservation Companies Job Duties
For those looking for jobs they need to be acquainted with some of the job duties required by many national companies in the following areas :
- Delinquent Vehicle Loan Inspections
- Floor Plan Audits
- Notice to Call Delivery
- Merchant Site Inspections/Surveys
- Commercial Real Estate Inspections
- Reverse Mortgage Inspections
- Mobile Home Vacancy Inspections
- Occupancy Checks
- REO QC Inspections
- Leased Equipment Inspections
- Collateral Inspection Reports
- Address Verifications
- Location Verification Inspections
- Delinquent Credit Card Interviews
- Credit Line Interviews
REO property preservation and maintenance services
Initial Services - such as services performed immediately upon a property becoming vacant
Recurring Services - also services performed on a regularly scheduled basis
Periodic Services - as well as services performed on an as-needed or requested basis
- Client support capabilities
- Bid Management System
- Bid Review and QC Process
- Winterization Management Program
Some of the areas that are serviced include:
Alabama, Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Kansas, Kentucky, Louisiana, New York, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, West Virginia, Wyoming and Puerto Rico.