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What Is Property Preservation?

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What Is Property Preservation?

What Is Property Preservation?

This manual is intended to give the reader a well rounded and thorough picture of the many requirements, procedures and activities which a property preservation contractor can expect to come their way. It is not intended to give you all the ins and outs of property preservation but rather to cover the whole field lightly in one manual.

The manual covers what other authors’ manuals do not cover and it will give you a clear and broad view of the industry. The information is presented in an easy to read and easy to understand “story telling” style. The narrator is Mr Preservation and he is discussing the industry with you one-on-one.

Chapter 1 sets the stage for the rest of the manual and is an introduction that starts with a chapter on the birth and history of the industry and then moves on to give a direct answer to the question at hand, “What Is Property Preservation?” The chapter ends with an explanation of the foreclosure process from which comes the majority of property preservation work.

Chapter 2 discusses 12 topics and 11 sources of property preservation jobs for contractors. Some of these sources are seldom if ever mentioned by anyone anywhere.

Chapter 3 contains the majority of information in the manual. In the chapter, 29 of the most common tasks associated with the property preservation industry are well explained. These 29 discussions offer further understanding of what property preservation really is; what property preservation contractors actually do on a day to day basis.

If you are interested in more-in-depth coverage of a topic you will find additional Mr Preservation™ publications on a variety of topics. They are available as PDF downloads at www.mrpreservation.com and in Kindle format at the Mr Preservation Amazon Author Page. You can always go to www.amazon.com and search for “Mr Preservation” in the Kindle Store.

Everything changes quickly. There is probably some information missing from this manual but you will find that it is the most comprehensive publication out there that really goes to lengths to answer the question “what is property preservation?”

Since everything does change, the manual has a dedicated website at www.whatispropertypreservation.com.In addition to excerpts from the manual, the website has a list of revisions you may want to look at on occasion.

Table of Contents
Title Page
Copyright
Epigraph
About The Author
Disclaimer
Caveat
Table Of Contents
What Is In This Manual?
Introduction
How Did It Start?
What Is Property Preservation?
The Foreclosure Process
Where Does The Work Come From?
Investor Guidelines
HUD
Mortgagee Compliance Manager
Field Service Managers
Asset Managers
VA
Fannie Mae
Freddie Mac
USDA
Internal Revenue Service
U.S. Marshals Service
Private Lenders
Services Performed by Contractors
Documentation
Getting A Reputation
Determining Occupancy
Gaining Access
Curing Code Violations
Determining Damages
Reporting Conditions
Boarding And Securing
Debris Removal
Debris vs Personal Property
Lock Changes
Rekeying
Lockboxes
Securing The Property
Identification Of Hazards
Lawn Maintenance
Photography
Mold Remediation
Pool & Spa Securing
Roof Tarps & Repairs
Winterization
Conveyance Condition
Allow Access
Stickers & Notices
Evictions
Property Condition Reports
Bidding
Cleaning & Main Service
Demolition

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Property Preservation Winterization: Contractor Guide & Reference

Property Preservation Winterization EBook Cover

Property Preservation Winterization EBook Cover

Winterization of vacant properties as required by HUD, VA, FHA, Fannie Mae, Freddie Mac, other mortgage lenders and Mortgage Service Companies is a critical part of the preservation and protection of abandoned properties and foreclosed homes.

This guide and reference is the result of a months long fact-finding mission by Mr Preservation to gather the steps and procedures of winterization requirements published by government agencies such as HUD, FHA, FHA and USDA; Government Sponsored Enterprises such as Fannie Mae and Freddie Mac as well as dozens of Property Preservation Companies and Mortgage Servicing Companies.

The steps and procedures of those requirements have been blended with the techniques and procedures of Property Preservation Contractors from across the country to create a comprehensive and reliable publication on the subject of property winterization.

The 70+ page guide is not puffed up with pictures of toilets and frozen wastelands. Every page is used to present the facts and stories of what has to be done in order to protect the property from freeze damage and the contractor from enormous liabilities.

Mr Preservation publications are still the most well known and widely read publications on the subject on property preservation and you are sure to want to add Property Preservation Winterization Contractor Guide & Reference to your contractor’s library.

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HUD Field Service Manager Awardees List

HUD has centralized its property management functions into a single point of contact, designated as the Field Service Manager (FSM) (see Mortgagee Letter 10-16 for further information). The FSM contracts were awarded to multiple field service management companies in 10 award areas.
Note: HUD Has Not Updated This List Since 22 Februrary 2011
Free
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USDA Obligations Related To Property Possession and Preservation

The purpose of this Administrative Notice (AN) is to clarify the provisions of RD Instruction
1980-D regarding the content and submission requirements for Single Family Housing
Guaranteed Loan Program (SFHGLP) lender/servicer real estate owned (REO) property
disposition plans (PDP) and incorporate guidance regarding occupied REO.
Free
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USDA Handbook Chapter 15: Managing Custodial and REO Property

The Agency assumes management responsibility for 2 types of properties: custodial and
real estate owned (REO). Custodial property is borrower-owned property which has been
abandoned. REO is Agency-owned property to which the Agency has acquired title, either as a
result of foreclosure or conveyance by deed in lieu of foreclosure. This chapter outlines the requirements for management of each type of property.
Free
Download USDA Handbook Chapter 15: Managing Custodial and REO Property


USDA Handbook Chapter 16: Disposing of Real Estate Owned Property

The Agency will make every effort to sell real estate owned (REO) properties quickly
and at the best possible price. Whenever possible, preference will be given to selling REO
program property to buyers eligible for Direct or Guaranteed SFH programs.
Free
Download USDA Handbook Chapter 16: Disposing of Real Estate Owned Property