Initial secures occupied - REO Property Preservation Forum
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post #1 of 19 (permalink) Old 05-06-2014, 08:22 AM Thread Starter
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Initial secures occupied

Anyone else seeing an unusually high number of occupied properties? We are mostly seeing it on initials or grass cuts.

We have seen a few on properties we have serviced for months or years. They seem to be selling faster and the Nats are still sending out orders for them.

Maybe it's just our area but things seem different.
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post #2 of 19 (permalink) Old 05-06-2014, 08:57 AM
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We've run into several recently. Most of them seem to have just closed on the properties within the last week and it appears the bank/client hasn't notifed the regional/national handling the area.

All the new owners were very nice and understood why we were there. We tell them all to make sure they change the locks ASAP and put a notice in the window stating the property has recently been purchased and it is occupied. As we are not the only contractors that go to these properties.
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post #3 of 19 (permalink) Old 05-06-2014, 09:12 AM
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We get a dozen or so every summer. They don't seem to mind since they don't have to pay for it.
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post #4 of 19 (permalink) Old 05-06-2014, 10:06 AM Thread Starter
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Originally Posted by GTX63 View Post
We get a dozen or so every summer. They don't seem to mind since they don't have to pay for it.
We get these every year as well. This year we seem to have twice as many. It also seems like more properties are clearing the system faster.
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post #5 of 19 (permalink) Old 05-06-2014, 11:24 AM
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Originally Posted by ctquietcorner View Post
We've run into several recently. Most of them seem to have just closed on the properties within the last week and it appears the bank/client hasn't notifed the regional/national handling the area.

All the new owners were very nice and understood why we were there. We tell them all to make sure they change the locks ASAP and put a notice in the window stating the property has recently been purchased and it is occupied. As we are not the only contractors that go to these properties.

Your leaving $$$$ on the table. Offer to rekey the locks for them or install new ones. I keep a coffee can full of random keys and let the buyer pick one i rekey too. Then i cut them as many keys as they want. I also keep good quality new locks with me. We have no locksmith requirements for re-keying. If you do you can still change out the locks for them as a handyman. This also leads into re-occuring work. One home i rekeyed for a buyer last year has my business card magnet on her fridge. Over the winter the garage door opener jumped time and wouldn't close properly. $50 service call and in and out in 30 minutes. She just called me yesterday because the back frost free spigot on the house is dripping. $18 rebuild kit and another $50 service call this after noon. No pictures to upload and paid on the spot. DIVERSIFY FOLKS! This business will not be here forever!
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post #6 of 19 (permalink) Old 05-06-2014, 11:27 AM
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The median time on market for a house (non foreclosure) in Pensacola, Fl was 123 days back in March. For Detroit Mi, is was 59.

Go and figure.
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post #7 of 19 (permalink) Old 05-06-2014, 01:04 PM
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Sometimes I feel I have been used as an occupancy inspector when sent out to these types of orders. Usually in rural/remote areas where willing inspectors are hard to find.
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post #8 of 19 (permalink) Old 05-06-2014, 01:56 PM
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Your leaving $$$$ on the table. Offer to rekey the locks for them or install new ones. I keep a coffee can full of random keys and let the buyer pick one i rekey too. Then i cut them as many keys as they want. I also keep good quality new locks with me. We have no locksmith requirements for re-keying. If you do you can still change out the locks for them as a handyman. This also leads into re-occuring work. One home i rekeyed for a buyer last year has my business card magnet on her fridge. Over the winter the garage door opener jumped time and wouldn't close properly. $50 service call and in and out in 30 minutes. She just called me yesterday because the back frost free spigot on the house is dripping. $18 rebuild kit and another $50 service call this after noon. No pictures to upload and paid on the spot. DIVERSIFY FOLKS! This business will not be here forever!
He has done work for some and even has a nice pex job to do for one of them, but a lot of times they don't want anyone to do the work stating they will do it themselves.
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post #9 of 19 (permalink) Old 05-06-2014, 05:42 PM
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Originally Posted by Craigslist Hack View Post
Anyone else seeing an unusually high number of occupied properties? We are mostly seeing it on initials or grass cuts.

We have seen a few on properties we have serviced for months or years. They seem to be selling faster and the Nats are still sending out orders for them.

Maybe it's just our area but things seem different.
Most of the sales now are CASH Buyers, speeds of the process and the servicers are the last to know. Im seeing a lot of these occupied property's in NC, GA much more so than we use to see. What Ive been really floored with is the tenant occupied property's that they are asking me to service. Ive got 7 on my desk now that were foreclosed on and the owner had tenants renting them with a lease that the bank is stuck with until the lease runs out. 3 are replacing gas water heaters, 2 are roof leaks.and the other 2 are plumbing issues.

The big boss calls my me on my cell at 7:30 Friday nite and wants them done asap. All BATF they don't care what the cost are, just get my as* out their fix-um he says. The boss never calls me... unless the crap hits the fan, you really cant touch nothing in NC AND GA without a license.

Turns out they sent a yahoo out to replace the GAS water heaters and installed the wrong type, they were suppose to be Directional vented threw the side of the house. So the tenants call the gas company because they smell gas days after the the install and they cut the gas off right away. The National never told the client what they did so i get to fix them, of course i was nice about it, did ask why didn't you call me in the first place, so i just flat fee them at $1979.21

Looks like im in the tenant business now, but im going to do a flat fee on everything because of having to deal with tenants.

Also i wanted to ask if you got the email about Everhome cancellations. They sent me a list of cancellation on properties i haven't serviced in months. You know I still don't get why they keep me active, Jeez, life has been so much easier with-out them.
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post #10 of 19 (permalink) Old 05-06-2014, 05:55 PM Thread Starter
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Originally Posted by Zuse View Post
Most of the sales now are CASH Buyers, speeds of the process and the servicers are the last to know. Im seeing a lot of these occupied property's in NC, GA much more so than we use to see. What Ive been really floored with is the tenant occupied property's that they are asking me to service. Ive got 7 on my desk now that were foreclosed on and the owner had tenants renting them with a lease that the bank is stuck with until the lease runs out. 3 are replacing gas water heaters, 2 are roof leaks.and the other 2 are plumbing issues.

The big boss calls my me on my cell at 7:30 Friday nite and wants them done asap. All BATF they don't care what the cost are, just get my as* out their fix-um he says. The boss never calls me... unless the crap hits the fan, you really cant touch nothing in NC AND GA without a license.

Turns out they sent a yahoo out to replace the GAS water heaters and installed the wrong type, they were suppose to be Directional vented threw the side of the house. So the tenants call the gas company because they smell gas days after the the install and they cut the gas off right away. The National never told the client what they did so i get to fix them, of course i was nice about it, did ask why didn't you call me in the first place, so i just flat fee them at $1979.21

Looks like im in the tenant business now, but im going to do a flat fee on everything because of having to deal with tenants.

Also i wanted to ask if you got the email about Everhome cancellations. They sent me a list of cancellation on properties i haven't serviced in months. You know I still don't get why they keep me active, Jeez, life has been so much easier with-out them.
Right now I am weighing whether I want to let them cancel an initial secure I did for Everhome or if I want to turn it in with the 4hrs of bidding it will require. I did a lock change and a grass cut on a small town lot. They probably owe me $130.00 and I am not sure I want to waste all the time for it. I have other stuff to do!

I was told they will Onboarding new clients. I'm not sure who?

Who got Everhome?
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