Reasons Realtors Need a Foreclosure Cleanout ServiceTypically, banks want REO foreclosure properties ready to show in a short amount of time. Because most foreclosures require furniture, appliance, and junk haul away, this can have a significant impact on getting it into salable condition. Some Realtors, who aren’t very experienced in foreclosure listings, might try to tackle a foreclosure clean out on their own. While this seems like it will save money, it usually comes with a hard lesson to learn.
When banks or other lenders offer mortgage loans, they see them as an investment, because they will earn money from the interest on the loan. If homeowners do not repay their mortgages, banks lose money. To salvage their investment, banks foreclose on homes with unpaid mortgages and sell the properties at foreclosure auctions. If a home doesn’t sell at auction, it becomes a real estate owned property, or REO property. —Realtor.comThe amount of time and effort can’t be underestimated. Even in situations like an estate home cleanout, you’ll need to set aside the time, one or two weekends, or, about four days of the week. You’ll need to hire help, rent a truck, make several trips to the landfill and back, and, pay dumping fees each time. When you add all the expenses up and factor-in the amount of time lost, it just doesn’t make financial sense. Here are some of the most compelling reasons Realtors need a foreclosure cleanout service:
- The job will be done quickly. When you hire a foreclosure cleanout service, you’ll save a lot of time and effort. The service will have the tools, equipment, and manpower to get the job done quickly so you can get the property sanitized and ready to show.
- The cleanout will be professional. There’s a lot more to foreclosure clean out than simply dragging items out of a home. The crew will know how to negotiate tight corners, awkward hallways, and any other obstacles which would otherwise make the clean out slow and arduous.
- You’ll avoid any unpleasant surprises. If there’s one thing about a foreclosure, it’s that you never know what’s in-store. Pet waste and all kinds of debris and junk are common to find in a foreclosed home. These are not only unpleasant, but also, present health and safety hazards.
- Everything that’s salvageable will be sorted to save. Any type of clean out can’t be wholesale. Some things might be worth saving to sell with the property. A foreclosure cleanout service will know what’s salvageable and what isn’t.
- All recycling regulations will be considered and met. There’s a misnomer about clean outs, which is the fact that it’s not really just throwing everything away. In some localities, there are recycling laws which must be followed.