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Drive-by inspection is a quick assessment of a property. In the case of foreclosure, drive-by inspection services are primarily used by financial institutions which require foreclosure property preservation and bank foreclosure inspection services and specialists.
Video Drive-by inspection
Quick property assessment
Drive-by inspection of properties are performed to assess a real estate property, such as of by field investigators for out-of-town landlords of rental property.
Maps Drive-by inspection
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 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 (FDCPA)
- Fair Credit Reporting Act (FCRA)
- Health Insurance Portability and Accountability Act (HIPAA)
src: cdn.abclocal.go.com
References
Source of the article : Wikipedia
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