The housing market in general has improved greatly since the tragic days of 2010 when the foreclosure rate in the U.S. was almost five times the current rate in early 2019. But it still happens.
Foreclosure of a home is usually a sad scenario of homeowners ending up “underwater” on their mortgage or, in other words, owing more than the equity in their home and too far behind on their payments. While this happens fairly regularly in every economic climate, the period from 2008 until about 2012 or so was particularly harsh. Over one million homes were foreclosed on in 2008 and another two million foreclosure starts were initiated the next year in 2009.
More often than not, when a home is foreclosed on, the bank takes possession of that property until it can be sold. This is the typical scenario depending on the nature of the transaction and the state the house is located in.
Sometimes, a real estate professional will work directly with the bank or lending institution to get the property sold as soon as possible since it is in the bank’s best interest to earn money from mortgage interest instead of holding title to empty houses.
And this often means the house needs to be properly cleaned out and prepped for sale.
A Handy Foreclosure Clean-Out Checklist
Normally, the bank will take steps to clean and secure the property until a real estate agent can succeed in selling the house. Unfortunately, not every banking institution puts forth the same efforts at cleaning and oftentimes the task is passed on to, or left up to, the agent.
When a home is left in a clean and debris-free state, the cleaning often requires little more than sweeping, dusting and possibly mowing the lawn. This is assuming, of course, that the foreclosure and sales process is completed within a relatively short period of time.
However, the reality is that the foreclosure process can take upwards of two and half years. In fact, at the end of 2017, the process was averaging almost three years, or 1000 days. And during this time, while not all those homes are vacant, many of them are.
This means that the property really needs to be maintained and periodically cleaned until it is able to be put on the market.
Here is a handy foreclosure clean-out checklist to aid in the process for those who find themselves needing to undertake that task.
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Foreclosure Clean-Outs Can Be a Team Effort
One of the best things about this type of project is that there are many professionals available to assist in the work.
For the cleaning portion it is not at all unusual to hire professional firms specializing in foreclosure and estate clean-outs. It is crucial to thoroughly vet your final choice, however, as this industry has been unfortunately plagued by a number of “bad actors” that have caused many problems for banks and real estate professionals over the last 10 years.
The outside of a property is just as crucial as the inside when it comes to proper presentation of a home for sale. Many competent landscaping and lawn maintenance companies are usually available if and when there are substantial outdoor areas to be cleaned and “spruced up.”
Finally, there is likely to be junk that has to get hauled away.
In some cases, there may be excessively large items or volumes of trash, old furniture and household goods, or other junk that requires a team of professional junk haulers. That’s when you should call in a reliable firm like Junk King.
Choose the Best Junk Hauling Pros For Your Foreclosure Clean-Out
Junk King is the leading business to business junk removal service in North America and our real estate junk removal services take care of the clean-out process for you.
We understand that as a real estate professional you need your homes to be pristine and you want to be able to list them as quickly as you can.
Junk King offers fast and friendly junk hauling with an emphasis on eco-friendly practices. We recycle or donate 60% or more of the junk we collect — including renovation debris, furniture and appliances, and even clothing and personal items. Real estate ventures can proudly call Junk King their green partner for real estate junk removal.
We are insured and offer post-escrow payment. Junk King handles junk removal services for real estate professionals across the U.S. and we are the highest rated service brand in the nation. You can depend on Junk King for speed, reliability and for the peace of mind that comes with getting your property ready fast.
Our professional and insured junk disposal team will call 15 minutes before we arrive on site. We’ll give you a free estimate based on how much room your items take up in our truck. You just point and we haul your junk items into our junk removal trucks, with no hidden fees.
It’s as simple as 1, 2, 3. You can make an appointment by booking online above or by calling 1.888.888.JUNK (5865).