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Drive-by inspection

Act of property assessment

Act of property assessment

Drive-by inspection is a quick assessment of a property. Drive-by inspection, or quick property assessment of properties are performed to assess a real estate property, such as of by field investigators for out-of-town landlords of rental property. Drive-by inspection services are primarily used by financial institutions in the case of foreclosure and require foreclosure property preservation and bank foreclosure inspection services and specialists.

Foreclosure

Drive-by inspection process includes:

  • Property assessment, upgrades and improvements – the property is inspected by a professional which inspects based upon a report verifying that all given financial funds and resources where utilized solely for home improvement.
  • Investigation and verification – is done to confirmed the property address, determine neighborhood condition and value of properties, and capture a photographic record of property interior and exterior.
  • Legalization
  • Implementation of methods and procedures are enforced by:
    • Fair Debt Collection Practices Act
    • Fair Credit Reporting Act
    • Health Insurance Portability and Accountability Act

References

References

  1. "Field Inspection Start-up Guide". Inertia Team.
  2. Wallin, Craig. (2009). "Drive-By Profits: Your Step-by-Step Guide to Making Money as an Independent Field Inspector." Anacortes, WA: Headstart Publishing. p. 148.
  3. "Property Valuations".
Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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