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To secure and protect properties from intruders, squatters and vandalism, property owners employ measures to ensure the they are secure through regular inspections and securing entry points. Generally, there are three main levels that need protection in property preservation, i.e. the outer perimeter, the inner perimeter, and the interior.
Before we delve more into why property securing is important, we would take you through the basics of property security and preservation.
What is Property Securing?
Any property that is known to be vacant or abandoned needs to be secured from intruders, squatters, or any other kind of vandalism. This is exactly what the property preservation firms do -- they secure the property when it has been acquired by the banks through foreclosure and needs to be protected.
As a part of the individual mortgage, every person needs to sign an abandonment clause that states that the mortgagor has legally and willingly has given complete authority to the banks to take the necessary measures in preserving the property.
In such cases, the banks change the locks or re-key secondary doors, in addition to installing a lockbox to allow entry to those maintaining the property. They monitor the property’s condition through regular inspections and are well aware of any kind of damage and the repairs required to preserve the value of the property.
Why is Property Securing Important?
Securing a vacant house is not an easy task as there are 24 hours a day and the vandals or intruders can access the property anytime. To ensure that the goal of property securing is achieved, the banks follow certain protocols that involve the property maintenance or preservation firms.
Why Banks Ensure the Vacant Property is Secured
- Avoiding the property from getting damaged, deteriorated, accumulated with hazardous materials, vandalism, spoilage due to weather change and safeguarding the property’s value
- Safeguarding from the claims of liability, mortgage security of personal property
- To keep safe from the unnecessary expenditure of Code Violations that are remediated due to the local municipality
Who needs Property Securing services?
Any foreclosed property assessment is taken care of by the banks if they are vacant or occupied. That’s where property preservation firms like SGPNow.com come in.
Property Securing Services offered by SGPNow
A qualified contractor will visit your property and perform the following services to ensure your asset is secure and protected.
- Lock change (2 doors max)
- Provide and install the lockbox
- Ground-level window/door board-ups (2 max)
- Identify damages
- Provide bids for damages found
The complete turnaround time for this service is approximately 5-7 business days.