Inspection Services

Occupancy Determination
The primary purpose of this inspection service is to determine who, if anyone, is occupying the property. The full names, contact phone numbers, any rental information (if applicable), agent or property manager information and the number of units will be provided, if it can be determined at the time of inspection. The property condition and any existing or potential conditions that could affect the value of the premises will also be provided.
Verification of Occupancy Inspection
The purpose of the inspection is to identify the occupant of a property. In performing this inspection, Virginia REO Preservation LLC will attempt to contact the occupant up to three independent instances over periods of 3 to 10 days, depending on the clients’ requirements. Attempts are made at varying times throughout the day(s) in an effort to reach the occupant at home to obtain the necessary information. Following a successful attempt, Virginia REO Preservation LLC will gather information from the occupant including the occupant’s identity, contact information, relationship to mortgagor and mortgagor’s contact information; if different from occupant.
Borrower Interview
The main purpose of this inspection service is to make direct contact with the borrower and obtain the reason for the delinquency and current phone numbers where the borrower can be reached. The property condition and descriptions will also be provided. If the borrower is unavailable at the time of inspection, a call back card will be left at the property. Upon request, the interview can be completed at the mailing address if different from the property address. However, the property condition will not be provided if the interview is completed at the mailing address.
Property Condition Inspection
This inspection service includes a direct visual observation of the property to determine the overall condition and occupancy status of the property.  Virginia REO Preservation LLC will determine if there are any existing or potential conditions that could impact the value of the property.  Property condition inspections can be completed on either a contact or no-contact basis.
Disaster Inspection
This inspection service will determine the condition of the property and what damages, if any, are present at the property due to the natural disaster.  FEMA inspections can be completed within regular inspection timeframes or on a rush basis.
Manufactured Housing Inspection
This inspection service includes obtaining the Vehicle Identification Number (VIN) or contact information for the manufacturer.  Photos of the property are taken based on the occupancy status.  If the property is vacant or damage is identified, additional photos will be taken and the results will be uploaded on a rush basis.
Insurance Loss Inspection
This inspection service provides the inspector’s opinion of the approximate percentage of repairs completed based on the type and dollar amount of damage. We will attempt to make contact with the homeowner within 72 hours of the inspection request date.
Fannie Mae Form #30
This inspection service provides the latest property conditions, area conditions and any conditions that could potentially affect the value or marketability of the property. This inspection provides the needed property information obtained from a physical inspection for completion of the Fannie Mae Form #30.
Bankruptcy Inspection
This inspection service provides the current condition of the property, the occupancy status and if there are any existing or potential conditions that could impact the value of the premises. We will NOT CONTACT the occupants of the property when completing this type of inspection. If the property appears to be vacant, we will attempt to verify the vacancy status with a neighbor or tradesman.
Weekly & Biweekly Inspections
Virginia REO Preservation LLC can automatically generate a list of loans to be sent out on a weekly or biweekly inspection cycle. This allows the client to stay in compliance with HUD regulations without having to request an inspection every week.
Foreclosure Inspection
Inspector will determine the overall physical condition of the property and occupancy status of the property. Contact can be made during this inspection. Observable damages are reported: property secured status – secured or not secured, utility status – active or not active and other maintenance needed sections are important for this type of inspection.
Sale Date Inspection
A contact inspection conducted on a certain date (the foreclosure sale date- assigned by Virginia REO Preservation LLC from the client relative to legal proceedings to acquire title in the servicer’s name).  Property condition is ascertained and occupancy results determine whether an eviction may be required.  If the property is vacant, preservation work commences consistent with client specifications.
Rush Inspection
Rush inspections are completed in 24-72 hours depending on the client’s requirements.
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