Drive-by inspection is a quick assessment of a property. Drive-by inspection, or quick property assessment of properties are performed to assess a real estate property, such as of by field investigators for out-of-town landlords of rental property. Drive-by inspection services are primarily used by
financial institutions in the case of foreclosure and require
foreclosure
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
Formally, a mortg ...
property preservation and bank foreclosure inspection services and specialists.
Foreclosure
Drive-by inspection process includes:
* Property assessment,
upgrades and improvements – the
property is inspected by a professional which
inspects based upon a report verifying that all given financial funds and resources where utilized solely for
home improvement.
* Investigation and verification – is done to confirmed the property address, determine
neighborhood
A neighbourhood (British English, Irish English, Australian English and Canadian English) or neighborhood (American English; see spelling differences) is a geographically localised community within a larger city, town, suburb or rural area, ...
condition and value of properties, and capture a
photographic record of property interior and exterior.
* Legalization
* Implementation of methods and procedures are enforced by:
**
Fair Debt Collection Practices Act
**
Fair Credit Reporting Act
**
Health Insurance Portability and Accountability Act
The Health Insurance Portability and Accountability Act of 1996 (HIPAA or the Kennedy– Kassebaum Act) is a United States Act of Congress enacted by the 104th United States Congress and signed into law by President Bill Clinton on August 21, 1 ...
References
{{Real estate
Mortgage