For those of you that do not know…there is a Society
of Field Inspectors in the United States earning a great living as Independent
Field Inspectors. They come from all
walks of life and include the one man show who services his/her local area, to
the large Field Inspection Firms such as PMIS (Property Management Inspection Services), Fast Times or BIIG INSPECTIONS that provideservices to multiple cities and
states.
The jobs/assignments are endless and independent
field inspectors are in high demand as the United States braces itself for yet
another wave of foreclosures. Foreclosures generate a “Wealth” of assignments for
field inspectors as federal law requires these foreclosed properties to be
inspected frequently. Property preservation inspections include: occupancy verification
inspections, REO Inspections, foreclosure inspections, BPO inspections,
Collateral inspections, Drive by Inspections, Move in Inspections, Exit
Inspections, Periodic Inspections, Maintenance verification inspections and
insurance inspections are just some of the type of inspections performed by
certified field inspectors each and every day.
A Field
Inspector is an individual who has received specialized training or
Certification and is hired to provide visuals inspections of real estate i.e.
residential rental property inspections, (BOP) Bank Owned Properties,(REO) Real
Estate Owned properties, as well as perform inspections for investors,
landlords, tenants, banks, and insurance companies. Field Inspectors also
perform collateral inspections that might involve inspecting heavy equipment or
even recreational vehicles.
The main responsibility of Field Inspectors is to document with photos and comments the condition of property or collateral for the person or companies they represent, such as Landlords, Tenants, Property Managers, Banks, Mortgage Companies and other lending institute.
VISIT www.naarpiinternational.org to learn more about the exciting industry know as property preservaion and Field Inspecting. NAARPI has the worlds largest on line Property Preservation University, Field Inspection and Proerty Preservation Training center.
The main responsibility of Field Inspectors is to document with photos and comments the condition of property or collateral for the person or companies they represent, such as Landlords, Tenants, Property Managers, Banks, Mortgage Companies and other lending institute.
VISIT www.naarpiinternational.org to learn more about the exciting industry know as property preservaion and Field Inspecting. NAARPI has the worlds largest on line Property Preservation University, Field Inspection and Proerty Preservation Training center.
Opportunity
for Field Inspectors and the types of Inspections:
Periodic & Maintenance Verification Inspections PROTECT YOUR INVESTMENT! |
1.
Inspections for Landlords, Investors, Tenants and Property Managers.
a. Pre-
Agreement Inspections: Designed to protect all parties including the property
manager. The Pre-Agreement Inspection starts the documentation process and
leaves no doubt in anyone's mind as to the actual condition of the property at
the time of inspection and the management agreement is signed.
The prevent litigation caused by misunderstandings |
b. Initial
or Move-In Inspection: Designed to replace the Walk-Through Checklist. It
provides both the tenant and the property manager with documented proof as to
the condition of the property as documented through the trained eyes of a
certified NAARPI Field Inspector. www.naarpi.org
c.
Periodic Inspections: Are used to chronicle and document the maintenance habits
of the tenants. Designed to prevent illegal activities such as Grow Houses and
Meth labs and reduce the need for costly maintenance by identifying minor
issues before they become major issues.
Prevents Illegal Activities & Insurance Cancelation
d.
Transitional or Exit Inspections: Are used to document the condition of the
property at the time the leasing agreement is terminated or when the owner and
property manager decide to terminate their contract.
e. Drive
By Inspections: NAARPI Certified Field Inspectors document the condition of the
exterior of the property and verifies that it is still occupied.
f.
Monthly, Quarterly and Bi Annual inspections of Residential Rental Properties.
2. Collateral
Inspections:
Leasing
companies depend on Certified Inspectors to confirm the location of their
leased equipment, which requires onsite inspections to not only verify that the
equipment is where it is supposed to be but to verify serial numbers, condition
and that preventive maintenance is being performed. Leased equipment could include just about
anything you can imagine from vending machine located in office buildings to
generators, portable office buildings, heavy earth moving equipment and even
airplanes.
3. Commercial
Inspections
Certified Inspector are hired by insurance
companies to perform detailed inspection on business properties, such as
restaurants, strip malls, retail stores,
warehouses and apartment buildings. Inspectors are provide with a checklist
that outlines what is required to be inspected, this normally will include any
equipment that was leased with the building.
4. Construction
Progress Inspections:
Builders
get loans from banks or investment companies for construction projects, these
monies are paid in set amounts and are to be used to complete the various stages
of the building project. The lender(s)
hire Certified Field Inspectors to verify that the work is actually being done
as well as on the progress; a checklist is provided by the lenders to the field
inspector and these inspection normally include several photographs of the
building site.
Home
Condition Inspections or (BPO or Broker Price Opinion)
During or
After a property is foreclosed, the lender is required by law to verify the
condition of the property regularly. Field
inspectors are often used by Brokers to determine occupancy and damages, the
Broker is responsible for rendering a Price Opinion base on comparables.
Insurance
Inspections
Before
writing a new policy on a home or building, insurance companies require the
assistance of field inspectors to document the condition, documenting the
current condition and looking for safety related hazards. Inspectors might also be called upon to
verify the square footage of the property.
Occupancy
Inspections
An
occupancy inspection is requested by a mortgage company to verify that the
person who borrowed the money is really living on the property and has not
abandoned or rented it out . Most residential mortgages for owner-occupied
homes contain a clause requiring the borrower to live in the home at least a
year, and some stipulate that the property may not be rented.
If you are
considering becoming a Field Inspector you owe it to yourself to visit www.naarpiinternational.org to learn more, there are also
several good books on this subject. You
will also want to learn more about FEMA and HUD inspections. Good Luck and much success as you Drive for Dollars.
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As a professional inspector I can tell you that Field Inspections assignments kept me from going under. I never gave these types of inspections a second thought, in fact I really consider them beneath me. Well when the housing market took a dive I found myself loosing jobs to other inspectors who were slashing prices. A friend sent me a facebook link about Field inspections…long story short, I am now a proud field inspector and find I enjoy it more than working with buyers, sellers and anal real estate agents.
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