In response to requests by a number of our clients, we are pleased to now provide our clients and the industry with a Deed-In-Lieu Property Condition Inspection service.

When a deed in lieu of foreclosure is arranged, the mortgagor remains responsible for the property until title transfers. This responsibility includes maintaining the utilities during winter months, transferring the property with major appliances intact, and performing all basic maintenance and preservation to protect the property. Unfortunately, mortgagors may not understand their responsibilities or the importance of meeting the property preservation requirements during the deed-in-lieu process.

Upon request, Safeguard will meet with the mortgagor to review the terms and conditions of the deed-in-lieu title transfer. On the transfer date, Safeguard will again send an inspector to meet the mortgagor at the property to verify the property condition, including whether appliances remain at the property, utilities have been maintained, whether the property has suffered any damage, whether all debris has been removed, etc. While at the property, the inspector can immediately secure and winterize the property and document the property condition with photographs. Any items that must be performed in order to place the property in convey/marketable condition can be promptly reported and bid to the client.

This service provides the lender with the opportunity to verify property condition prior to finalizing the DIL agreement and can help prevent costly delays in the conveyance/ marketing process.

If you would like additional information about this service or other services offered by Safeguard, please contact our Marketing Department at 1-800-852-8306, ext. 1125. or via e-mail at MarketingDept@SafeguardProperties.com