Mortgage Services

Property Preservation and Inspection Services

Managing vacant properties is a very meticulous activity, considering the financial implication to the investor, the property Preservation clients and vendors. Given the challenges of ever changing rules and regulations, software updates and changes, chargebacks, and the need to manage a large vendor base effectively while maintaining good quality work, Property Preservation is no doubt one of the most challenging tasks in the default space. CPJ's well trained Property Preservation team, helps you to manage even the most complex tasks with utmost ease – All this while reducing your costs by more than 50%. Our specialized environmental engineer could offer consulting on special properties that is causing environmental hazards. Some of the services that we offer in the Property Preservation and Inspection space include.

Categories

Pre Foreclosure and REO Inspections

  • Assigning Inspection orders to vendors – Both Pre FC and REO
  • Review of completed Inspection reports
  • Updating the Reports onto Client Systems.
  • Follow up with vendors on late and pending orders
  • Follow up with vendors on pending correction or incomplete orders

Pre Foreclosure and REO Preservation services on both maintenance and repair orders

  • Assigning Inspection orders to vendors – Both Pre FC and REO
  • Review of completed Inspection reports
  • Updating the Reports onto Client Systems.
  • Follow up with vendors on late and pending orders
  • Assessing the nature of repair required
  • Assessing the nature of repair required Obtaining Bids for Property Repairs
  • Review of bids and approving the one most appropriate
  • Ensuing the repairs are completed as per required Norms
  • Updating the Client system with relevant invoice, photos and information

Utility Turn on and off

  • Identify the Utility Service Provider for the asset
  • Check for the requirements for Turn On
  • Receive relevant documentation like POA, Title deed, Authorization letter etc from the client
  • Coordinate with the Utility company for completing the documentation and payment of relevant fee
  • Coordinate with the Utility company for Turn On either with or without Meet and Greet
  • Update the client system with the Utility company and the account information
  • The payment of Turn on charges, the pending dues, deposits etc to be cleared by the client directly or can be reimbursed to VN on submission of relevant invoices

Vacant Property Ordinance Research and Registration

  • Identifying the vacant properties post initial occupancy inspection / Pre Foreclosure Inspection. We do have a robust database for Vacant property ordnances for various counties.
  • Check if the property falls under the jurisdiction where vacant property registration norms apply
  • Completing the relevant documentation for VPR
  • Registration with the city for VPR with payment of relevant fee.

HOA – Identification and Management

  • Research on HOA company
  • Reach out to these companies and check the outstanding due and periodicity of payment
  • Compare with the Local ordnance and check if it is as per the permitted range
  • Check with the HOA Memorandum on consistency in fees charged
  • Communicate the discrepancy if any and revise the outstanding due with the HOA
  • Coordinate with the client in payment of HOA
  • Monitor and Manage frequency of HOA payments

Utility Bills Management

  • Receiving the Utility Bills on a daily basis
  • Scanning the Utility bills and identification of Asset Number
  • Updating the client system with the relevant Utility Bill information
  • Coordinating with the Utility company for pending bills, Bills not received
  • Coordinating with the client for payments to be made towards Utility companies
  • Creating Consolidated Accounts for Bills wherever possible, for ease of Utility Bills Management

Curative Services / Code Violation Identification and Resolution

  • Checking on the existing code violation on the property
  • Coordination with the city office for any additional violation and requirements to remove the violation
  • Coordinating with Property Preservation companies in carrying out the necessary repairs to resolve the violation within the specified timeline
  • Submitting proof of completion, coordinating for inspection by the city officials, negotiating with the city for waiver or reduction of fine
  • Updating the client system with the final status on code violation resolution

Vendor Management Services

  • Vendor Recruitment
  • Vendor Training
  • Order Allocation
  • Order Follow-ups
  • Order Scrutiny
  • Order Updating onto System
  • Monitoring Vendor Performance, TAT and Quality
  • Vendor License and Compliance Requirement Management

Recurring Services Include Bi weekly Inspections, Lawn Care and Winterization to be carried out for each of the property

  • Identification of assets requiring this service
  • Order allocation to vendors on periodic intervals
  • Order Review for completion § Updating Order onto client systems