You keep hearing news about foreclosed properties and how lenders take back control and ownership of properties that were mortgaged to them by borrowers. But do you know what happens to such properties during the time they are under the control of the lenders? These foreclosed properties remain vacant and unoccupied until they are resold to a buyer once again. It is the responsibility of the lender to keep such properties habitable and attractive so that they are easily sold. For this purpose, lenders hire services of property maintenance companies to provide upkeep and cleaning services. This is how these distressed properties are kept in good condition through preservation.
Distressed properties find it difficult to get buyers
Basically, companies that provide preservations services keep the homes clean from inside and outside. They do the yard work and carry out repairs and maintenance. But the main objective of the lenders through REO maintenance is to keep their properties safe and secure. These lenders have financial interest in these properties and they know they need to resell these properties to recover their money. Preservation services help in keeping the property clean and attractive. They also maintain the curb appeal of these properties.
Services provided by property preservation companies
1. Providing safety and security
Once a company gets the contract to preserve a property, it changes the locks to make sure that miscreants are kept away from the property.
2. Removal of dirt and debris
The property is kept clean and not just dirt but also debris of any kind is not allowed to deposit inside and outside the house.
3. Maintenance of curb appeal
This is one of the main aspects of preservation of a property. There are many tasks undertaken by the company to maintain the curb appeal of a property. These include mowing, trimming, and weeding.
4. Winterization of properties
Lenders know that if they leave their REO properties unattended during winter season, they can easily deteriorate. Therefore, winterization of properties is one of the major tasks assigned to any property preservation company.
Once a preservation company performs necessary repairs in a vacant property, the task that is undertaken on a routine basis is its cleaning and looking after its safety and security. These services play a crucial role in the resale of REO and foreclosure properties around the country. Herbruck Property Services is a company that has carved a niche for itself in the field of property preservation in Indianapolis and its surrounding areas.