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Foreclosure Cleanup and Mortgage Field Services Industry Inspections Equal Profit
As a real estate services contractor, adding property inspections to your list of services can bring in additional profits. Below is a list of inspections being performed by foreclosure clean-up and mortgage field services companies today.
There are several forms of inspections in the foreclosure clean-up, property preservation, and mortgage field services industries. To successfully add inspections to your list of services, educate yourself about the types of inspections needed, turnaround times, intricacies of forms associated with specific reports and ultimately the client’s overall need as it relates to specific inspecting reports.
Various Inspections in Mortgage Field Services Industry
Below is a quick list of some of the types of inspections being performed by foreclosure clean-up and mortgage field services companies today.
Verification of Occupancy
Initial Vacant Property
Though many of the inspections listed above may sound very similar in nature, they are each very different and may have very different uses for the client.
Foreclosure Cleanup Inspections
Below is a general overview of some of the inspections larger property preservation companies may ask you to perform as a foreclosure clean-up (http://www.e-
Occupancy Inspections. The main purpose of this viewing of the home is to determine whether or not someone is actually occupying the property. The condition of the home and any potential conditions that may have an impact on the home or property's condition will also be noted in this type of reporting.
Bankruptcy Inspections. This is a process where the property preservation company wants to know if the occupancy status and condition of the home will affect the value. The inspector will NOT contact the occupants directly, but rather the person doing the inspection will try to verify whether or not someone is living in the home by speaking with another party, such as a neighbor.
Foreclosure Inspections. This is a process where the physical condition of a home or property is documented, in addition to notations as to whether or not a home is secured, whether or not the utilities are active, and notations of maintenance required for the home.
Rush Inspections. This process is usually required to be completed in shortened periods of time (for example, from one to three days). The “rush” timeframe will depend on the client's needs.
Only Perform Inspections You’re Comfortable Completing
Remember, each property preservation company, or mortgage field services company, you choose to sign on with as a foreclosure cleaning vendor will offer various services, including inspections, for which you can sign up to complete.
As a rule of thumb, don't sign up to complete inspections you're not comfortable completing. In the "services offered" section of a property preservation company's or mortgage field services company’s vendor application, list only the duties you know you can perform well as a foreclosure cleanup business. Also list those services you know you can perform timely, and, most importantly, list those services for which you know you can make a healthy profit.
Good luck registering your foreclosure clean up business with property preservation companies and mortgage field services companies for inspection jobs.
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Cassandra Black, Industry Consultant, Author and CEO of Foreclosure Cleanup, LLC, authoring company of How to Start a Foreclosure Cleanup Business: FREE Articles and Advice Blog, http://foreclosure-
Page Updated Last on: Mar 11, 2011