See also: HYPERLINK “glossary.html” \l “CC” CC, HYPERLINK “glossary.html” \l “Conveyance_Condition” Conveyance Condition
In conveyance condition.
A self-employed individual working under contract to perform a specific task for another.
Terminology used primarily in the property preservation industry. This request is an authorization to clean an interior property of debris, clean baths, kitchens, etc.
An exterior occupancy inspection only. Usually requested the mortgage company mortgages the property or when some legal action is taking place against the property.
A range of dates in which the inspection must be performed.
Example: Inspection Window from 2/27/2006 to 3/14/2006.
Insurance Loss Inspection
Inspection for a property that has been damaged by some event (i.e., fire, water, wind, etc.) to insure that insurance repairs have been completed. Performed for the mortgage company to verify the property has been restored to the condition it was before the loss occurred.
Insurance loss inspections are used to help mortgage servicers and lenders determine the proper distortion of funds being held and designated for the completion of repairs at damaged properties. In order to protect the value of the property used as security against loans, mortgage servicers and lenders need to insure that repair funds are released timely and used to repair and improve the damaged property.
Odds and ends left on the inside of a property. Companies usually will have a monetary value that elevates an item from debris status to personal property status.
Even though a storage shed or garage may be detached and outside, any debris in either is considered interior debris.
A visual inspection of the interior of a property that has previously been reported as vacant and has been secured. A visual inspection to determine if there is any visible damage or situation that needs to be reported to the client.
This request may have many names however the key word here is “interview”. You are directed to try to interview a specified individual at a specified address. Most of the time, your questions will be on the inspection request form.
Practically all companies pay one rate if no one is interviewed and a higher rate if you are successful in completing the interview.
Inventory Survey & Valuation
An inspection and report on retail, wholesale, raw material and work-in-process inventories.