Preserving an REO property is essential to making sure that the property doesn’t turn into a fatal drain on your finances. Since no bank wants to end up owning and selling properties, it’s important to get that property off your rolls as soon as you can.
The problem is, many lenders and owners of REO properties turn away from the best solution to keep the property in great shape and get it sold fast. They fall prey to myths about preservation and as such they fail to take the right steps. Discover the truth underneath five huge myths about REO property preservation, and learn why you might consider hiring a service for your property today.
I’m Best Suited to Preserve My Property
This is probably the greatest myth out there, and the worst excuse. Managers think that nobody can handle the needs of their property management the way they can. There’s a number of reasons for this myth: arrogance, naivety and fear being the most common. The truth is, property preservation services are there to provide professional, expert services that you may not be equipped to handle yourself.
I Can’t Afford Property Preservation Services
The next convenient myth to which many fall prey is the question of expense. Yes, it’s true that property preservation comes with a fee and in the short term, you may not like that. Consider, though, what you’ll pay in the long run dealing with landscapers, carpenters, masons and other contractors to maintain your property. It actually can cost less to have a single service providing for all these needs on an as-needed basis.
I’ll Lose Control of My Property
Since property preservation services are often combined with property management services, too many people are afraid that hiring a service like this means losing control of your property. They think that once you turn over a property to a third-party service, things will happen about which they’ll be unaware, and they won’t have control. The truth is, a good service will keep you constantly appraised of what’s going on, and will always seek your approval before undertaking any service.
Property Preservation is Easy
It’s really easy to maintain a property, right? All you have to do is cut the grass every so often. In truth, when a home is sitting unused it can quickly fall prone to decay and blight. It takes a lot more than cutting the grass to preserve a property. It takes specialized work and knowledge, and you may not have the professionals on your rolls to do it.
Investors Don’t Want Updated Properties
It’s true that investors are looking for a great deal so they can flip and resell properties, but that doesn’t mean they don’t want to save money on work. You’re much more likely to sell your property faster if you keep it in great condition.
REO Property Preservation
If you’re looking for the very best in REO property preservation services in your area, look no further than First Freedom Preservation. Check out some more information about who we are and what we do, and get in touch for an appointment today!