REO Property Maintenance

Re-Secure
Under this REO property maintenance service, Virginia REO Preservation LLC will change the lock(s) at the property to the key code according to the regulatory requirements for the loan type, unless otherwise instructed. For loan types with no applicable regulatory guidelines, the HUD specifications, and the HUD pricing schedule, will be followed.
Debris Removal
This REO property maintenance service authorizes our independent contractor to remove interior, exterior or hazardous debris at the property as authorized by client request or the regulatory specifications for the loan type. If the debris for any loan type, cannot be removed for the published reimbursable fee, an estimate will be provided.
Lawn Maintenance
Virginia REO Preservation LLC will perform the necessary lawn maintenance to maintain the property’s appearance, prevent further degradation to the grounds and relieve the property of any existing or potential violation of local ordinance.
Lawn cutting includes mowing the lawn, weeding, edge trimming, sweeping of all paved areas (sidewalks, driveways, patios, etc.) and removal of all lawn clippings, related cuttings and incidental debris.  The disposal of all clippings and incidental debris is removed in compliance with jurisdictional requirements.
Virginia REO Preservation LLC also provides an automatic grass cut program, where we will maintain the grounds at the property according to the applicable regulatory guidelines for the loan type. We will continue maintaining the grounds at the property until instructed to remove the property from the program or maintenance is no longer required, as specified by the regulatory specifications for the loan type and/or client profile.
Winterizations
This REO property maintenance service authorizes Virginia REO Preservation LLC to winterize the plumbing at the property, to prevent freeze damage, according to the regulatory requirements for the loan type. If the work cannot be completed for the applicable regulatory price, an estimate will be provided to complete the winterization.
Emergency Maintenance
For this REO property maintenance service, Virginia REO Preservation LLC will perform the necessary maintenance to maintain the property’s appearance, prevent further degradation to the grounds and relieve the property of any existing or potential violation of local ordinance. As with any property preservation order, the HUD specifications, and the HUD pricing schedule, will be followed for all loans with no applicable regulatory guidelines, unless otherwise instructed.
Auction Sign Placement
Virginia REO Preservation LLC provides an auction sign placement service, where we place auction signs in the yards of properties scheduled to be auctioned.  Once the signs are placed, property checks are conducted prior to the auction to ensure the signs are still intact.  Once the property has been auctioned, the sign is removed.
Janitorial Services
Virginia REO Preservation LLC provides janitorial services to bring the property to a marketable condition. The services included are the vacuuming of all carpets, mop all non-carpeted floors, scrub all bowls and basins, wipe down all counter tops, cabinets and appliances. This can be a one-time order or re-occurring depending upon the clients request.
 
Repair and Rehabilitations
In addition to standard repairs as agreed upon in client contracts, Virginia REO Preservation LLC offers full-spectrum rehabilitation of properties. Virginia REO Preservation LLC strives to ensure that market-competitive materials and improvements are reflected in all aspects of the work and will coordinate and cooperate with the local listing agent. In the cases of higher-values properties where the property warrants upgraded materials or special work to bring it to its full market value, Virginia REO Preservation LLC will provide a cost-effective scope that enhances marketability in the given price range.
Smoke Detector, Carbon Monoxide Detector & Water Heater Strap Installations
Virginia REO Preservation LLC provides smoke detector, carbon monoxide detector and water heater strap installation per local code requirements.
Evictions
Virginia REO Preservation LLC provides eviction/lock out services. Virginia REO Preservation LLC will work with the local authorities on the removal of all trash and personal property of the occupant. Eviction guidelines vary by state, county and city jurisdictions and Virginia REO Preservation LLC will follow the specific instructions provided with each lockout request.
Pool Maintenance
Virginia REO Preservation LLC provides pool services that include initial start-up of the pool and its operating systems, which may include draining, acid washing, and refilling the pool, adding any necessary chemicals to ensure the proper pH balance and examination/recommendation of repairs or replacement of the pump, motor and filter. Ongoing pool maintenance services can be provided on a weekly basis to ensure that the pool is maintained in an appealing manner to enhance marketability of the property. Pools will be secured via locked gate or other means to discourage unauthorized persons from entering the pool area.
Cash for Keys
Virginia REO Preservation LLC can work with listing agents and clients on the cash for keys exchange. Once the Client has received the signed agreement from the occupant(s), the client will notify Virginia REO Preservation LLC of the scheduled cash for keys appointment. Virginia REO Preservation LLC will inspect the property based upon Clients specifications and instructions and if the property meets Clients specifications, Virginia REO Preservation LLC will complete the cash for keys exchange with the occupant(s). If the property does NOT meet cash for keys specifications, Virginia REO Preservation LLC will reschedule the cash for keys exchange up to two (2) times within 24-48 hours from the original cash for keys date.

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