Need some advice - Page 2 - REO Property Preservation Forum
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post #11 of 15 (permalink) Old 02-05-2020, 12:16 AM Thread Starter
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I would have no problem taking pics for a paying job but to require them on a bid where you get nothing I am not going to do. When I see there bid jobs in que I just click reject.
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post #12 of 15 (permalink) Old 02-05-2020, 09:56 AM
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Originally Posted by arandol17 View Post
How much does the inspection cost for you?
Most national and regional service companies have wording in their contracts that state they'll hold me 100% financially responsible for all items not identified/reported during an inspection. That means each inspection WO I accept has the potential of causing me to lose everything and be forced into bankruptcy. How much should we charge for that? I'm certain that what I charge is not enough to cover the risks involved.

My pricing starts at $350 and has gone over $10K, and is almost always accompanied with travel money approvals.

The going rate to have a certified, insured home inspector perform a thorough home inspection like that here starts at $550. Even still, their final report is riddled with legal jargon designed to absolve them of any and all liability for missed and inaccurately reported items. I never use industry standard report forms, mine are all custom written. I have adopted (borrowed, plagiarized) the fine print from a couple of the professional home inspectors I know, and include it on my final reports. I also word every line item in my reports with things like "quick visual inspection only", "recommend having a professional (insert trade here) assess for any potential issues" and "not observed on this visit to the property". Not real sure if any of that will protect me if something ever goes south, but it does make me feel a little better about my odds.

Iíve already told you more than I know.
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post #13 of 15 (permalink) Old 02-05-2020, 11:31 AM
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I think my favorite thing clients do is expect you to know the damages that are present and bid for these without knowing until you remove the damaged drywall, or flooring, etc.
I have something like that right now, the bathroom is all moldy. I have bids to remove the drywall and assess if any damages are present behind it. They have complained to no end that I refuse to bid to remediate something I can not see.
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post #14 of 15 (permalink) Old 02-14-2020, 07:35 AM
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Its been my experience that once you set foot on a property you can be held responsible for any and or all continuous deterioration. You are the eyes for the bank, company, owners etc. And finding additional issues to a property could add to your bottom line. I would however not get into the routine of providing property condition reports or bids if additional work is sooner or later not given to you.
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post #15 of 15 (permalink) Old 02-14-2020, 08:21 AM
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We have the same problem with these clients. You can look at this problem from different perspectives according to your business model.

1. You only want to bid what they are specifically asking for on your work order. For example if they are asking for a Roof bid, Foundation repair, Mold problems or some other specific damage item. You visit the property and assess, photo and measure the damaged area. You then prepare the bid and send it off to your client. Very specific damage bid. You are hunting with a rifle using this approach. You will have a very limited chance to recoup your time and investment cost for performing this bid. Please remember you are still working for FREE in this example and we are assuming that you performed no allowables when on site.

2. You send a crew to the property to perform an intrusive PCR. You bid all damages and drill down on every potential violation, safety hazard, environmental hazard, Structural defect, Mechanical and yard care problem. You have now just opened up a potential job that will pay substantial returns. You are hunting with a shotgun at this point.

These are some of the things you need to consider when bidding to these types of clients. If you are specifically a roofing contractor then you should concentrate on that specific trade. The preservation business is very diverse and extremely demanding. You need to develop a plan of attack on what and how you will be bidding.
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