Drive-by inspection is a quick assessment of a property. Drive-by inspection, or quick property assessment of properties are performed to assess a real estate property, such as of by field investigators for out-of-town landlords of rental property.Wallin, Craig. (2009). "Drive-By Profits: Your Step-by-Step Guide to Making Money as an Independent Field Inspector." Anacortes, WA: Headstart Publishing. p. 148. Drive-by inspection services are primarily used by financial institutions in the case of foreclosure and require foreclosure property preservation and bank foreclosure inspection services and specialists.
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 Fair Credit Reporting Act Health Insurance Portability and Accountability Act
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