What to Include in a Winning REO Property-Preservation Vendor Bid

For people who dream of being their own boss, running a successful REO property preservation can be a potentially life-changing prospect. In addition to acquiring all of the maintenance and cleaning equipment you will need to perform property clean-outs, you will need to submit detailed winning bids in order to start working. Here are the critical details you need to have included in every REO property-preservation vendor bid that you submit to lenders.

Residential Property Clean-Out and Maintenance

When people leave their homes behind due to mortgage default and foreclosure, they tend not to be neat and tidy. Foreclosed property clean-outs can be a good area for a newly formed REO property-preservation vendor to get into the market, but you will also need to demonstrate how knowledgeable you are by submitting well-written bids.

Detailing how your company is prepared to haul trash, make minor repairs, sanitize, and clean properties in your bids is a good way to get the attention of clients. Preparing an inventory list of the cleaning equipment that your company currently has on hand to perform REO property clean-outs can help show that you are ready to get started right away. Steam cleaners, commercial vacuums, pressure washers, and industrial cleaning solutions should definitely appear on your inventory list if you are bidding on REO property clean-out jobs.

REO Property Winterization and Lawncare

A large component of your bid should outline the REO property landscaping and winterization services your company can handle. In order for people to sell unoccupied properties, they must be property maintained, inside and out. Detail your proposed REO property lawncare schedule with potential clients, along with a total cost per square footage estimate to make an impact with your bids. While you take care of the lawns of bank-owned properties, you can also perform winterization services that will help to preserve their appearance as well as their value.

Bank-Owned Property Repair and Revitalization

Bank-owned properties that have sat unoccupied for a while may need to be revitalized and repaired in order to interest potential buyers. Consider offering services such as power washing the exterior of the building to eliminate mildew and mold, and offer to do minor repairs such as door replacement to help set your company apart. Offer to make use of your cleaning equipment to spruce up the interior when preparing properties for showings, and be prepared to take pictures of each property before and after work is performed so that you are able to back up your winning bids with continued professional service.