Deborah Jabb…, Other/Just Looking in East Islip, NY

I would like to start a foreclosure clean out business, how do you get the business started. Who gives you?

Asked by Deborah Jabbour, East Islip, NY Wed Mar 18, 2009

the properties, I would assume the bank once they take the property over. Thank you

Help the community by answering this question:


I Would Start by looking into having insurance and all of the proper equipment. I have been doing REO for 7 years and will tell you its not a easy as it seems. There are many different websites to register with and i would look into REONETWORK if there are any questions you can email me
0 votes Thank Flag Link Thu Jul 8, 2010
Deborah a lot of the lender owned properties go through asset management companies. They or the Realtor® that is going to list the property normally would choose the company that does the trash out, changes locks, and does the board up or tarping if needed. You would need to show to most peopple that you had the proper insurance in place workmans comp and liability. If you are dealing with the Realtor® let them know that you are willing to wait 90-120 days to get paid. If you are dealing with asset management company expect to get paid in 90-120 days.

Oh by the way if you do not submit the invoice properly according to the asset management companies criteria they will not send a check and normally will not contact you to let you know that you paper work is not right.
Web Reference:
0 votes Thank Flag Link Sat Sep 26, 2009
Ditto to what my colleagues say. Contact banks directly. Also real estate agents often can use that service, particularly in an estate sale, which makes me also think to contact attorneys, as often they have to handle the estate of a deceased person, and the property may need such a service.
0 votes Thank Flag Link Sat Sep 26, 2009
There are many instances that Realtors have Listings that need cleaning out. I think this would be a great service that you are offering. We usually have a great relationship with our Clients, which may be a Bank or Homeowner. I suggest starting a website about the service you provide and market it toward Realtor's and the general public. You can start with emailing me your contact information. P.S. You may want to look into insurance for this kind of business. Please send me your contact info. I'll keep it in my database.
Good Luck!!!
Patrick Williams Jr.
Keystone Realty USA
Direct (516) 425-3764
0 votes Thank Flag Link Mon Mar 23, 2009
Yes, banks would be your client. Keep in mind that some banks do use management companies, and they do the boarding up, trim the lawn, etc. The interior more often than not is left alone as they are sold as is.
0 votes Thank Flag Link Thu Mar 19, 2009
You would definitely have the bank as your client...once a home is foreclosed on, the bank owns it. Typtically they sell the homes in "as is" condition and may not even be employing clean out companies.
Web Reference:
0 votes Thank Flag Link Wed Mar 18, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer