Rahul Sharma (Editor)

Drive by inspection

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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.

Contents

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.

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)

    • References

    Drive-by inspection Wikipedia
    (Text) CC BY-SA