We provide free estimates or bids for REO services. Sometimes REO homes need basic maintenance; and other times they need partial or even full renovations. As a licensed general contractor, we are capable of servicing all of these needs. We also understand that your client may want to know that status of their project; so we are happy to provide status updates at any time. Below are some of the services we provide. Please keep in mind that no job is too small or too big; so please contact us with questions.
Once an inspection determines that a property is vacant, Built Right takes steps to protect it and mitigate exposure to loss. One of our experienced staff will secure the property and perform a lock change according to investor or insurer guidelines. For loan types with no applicable regulatory guidelines, HUD guidelines will be followed. If the property is in pre-foreclosure status, the lock will be changed on a secondary door when possible. All locks will be changed post-foreclosure. All results are documented with photos and written reports, then submitted to the client.
- Locks on door knobs and/or deadbolts are replaced according to appropriate investor or insurer guideline requirements.
- Slide bolts, padlocks, and/or hasps may be installed to accompany lock change if required for complete property security.
- Lock boxes are typically installed with a pre-assigned code unless already provided by a realtor. Lock boxes secure keys to the property to allow controlled third party access.
- Board-ups are completed to secure windows, doors, and secondary entry ways that allow easy access into the property. Applicable guidelines for security are followed based on the size of entry way.
- Swimming pool areas are secured according to lender requirements or by abiding by applicable regulations. This could include covering, decking, screening, pumping water out of the pool, chemical treatment and/or padlocking the pool gate, if required.
- Security fencing may be erected at investor or insurer request to prevent trespassing.
Debris Removal / Trashouts
Exterior and interior debris that may result in a code violation or that creates a potential health, safety or infestation risk is routinely removed from properties. Once a property has gone through foreclosure, all debris inside and out, both hazardous and non-hazardous will be removed. Interior debris is also removed per investor or insurer guidelines. Exterior debris is taken to a licensed dumping facility. Personal items left on the property will remain until the client provides specific instructions or a personal property eviction is ordered.
- Items that are considered personal property, such as televisions, computers, items in good condition, etc., are typically stored in a storage for a period of 30 to 90 days depending on lender or insurer requirements. Personal property that is not claimed within this period is normally donated at the lender/insurer’s request.
- Debris is removed based on investor or insurer instructions. Debris is removed and counted based on cubic yards.
- Hazardous materials are removed based on insurer/investor instructions. Disposal of hazardous material is done at a licensed facility according to city/county codes. We provide a copy of a dump receipt to verify that the debris was dumped legally.
- Abandoned vehicles are removed based on investor / insurer instructions.
Many foreclosed homes that are left uncared for may need additional work done during sales clean. All bedrooms and bathrooms are cleaned according to sanitary standards and as required by investor/insurer guidelines. All rooms are cleared of debris and other items that are not permanently fixed to or a part of the sale of the property. Services usually include vacuuming, mopping, and scrubbing of items that need to be cleaned. Should grafitti be discovered, it is painted over with primer.
- Maintains the property in a “ready to show” state; providing a clean, presentable and safe environment.
- Detailed cleaning includes floors, walls, cabinets, countertops, appliances, and fixtures.
- Deodorizing to eliminate smoke, pet, and other odors
Some foreclosed properties may require partial or complete renovations to restore the home to saleable condition or to increase market value. We can remodel any room in the house to increase its beauty or functionality. Some of the most common REO remodels include:
- Kitchen countertops and cabinets
- Bathroom countertops, cabinets, and fixtures
- Window and door replacements
- Repair of damaged walls
Winterization is the process of preparing for upcoming winter and cold weather. Winterization involves the draining and sealing of pipes so that water does not freeze inside the pipes. If not performed correctly, pipes may burst or break.
How a property is winterized:
- Electricity and/or natural gas is turned off for the boiler and the water heater.
- All of the heating and plumbing systems are drained.
- Air pressure is used to clear the system of water.
- Anti-freeze is added to all fixtures including toilet bowls and tanks, as well as sink drains and traps.
- 5. The water supply is shut off by closing the main shut off valve, and secured in the off position using a zip tie.
- All winterized items are tagged or labeled with date of winterization.