A foreclosure cleanout is no one's idea of a fun project. But real estate professionals still have to deal with them.
While it is true that the real estate market is still far more robust than it was back in 2009 and 2010 when the foreclosure rate peaked at close to 2.25 percent of the market, foreclosures still happen. For example, by comparison, the end of 2018 only saw a 0.47 percent rate in foreclosed properties.
Which means that, going into 2019 the U.S. housing market is still seeing foreclosures.
According to RealtyTrac in January 2019,
"There are currently 435,421 properties in U.S. that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 791,136. In January, the number of properties that received a foreclosure filing in U.S. was 8% higher than the previous month and 19% lower than the same time last year."
And, depending on what state you work in, the rate may be even higher. The foreclosure rate in the U.S. as a whole is 1 home in every 2348. The Top 5 States for foreclosures at the beginning of 2019 were the following:
- New Jersey
1 in every 935
1 in every 1159
1 in every 1167
1 in every 1352
1 in every 1415
As a good real estate professional, you probably go above and beyond for your clients. But cleaning out foreclosed homes is probably not something you really look forward to. When it comes to actually cleaning a home you can quite likely outsource the cleaning work to local professionals.
But there are probably no house cleaners who will also take care of hauling out large quantities of trash, debris, furniture and other large items that might be left in a house.
Foreclosure Cleanouts Can Be Strategic
One of the unfortunate aspects of working with a foreclosed property is the typical condition of the vacated home. While not every former resident leaves things behind, more often than not there will be trash, old clothes, debris from broken items, old furniture and even old appliances left there.
Because of this common scenario, foreclosure cleanouts can be some of the most labor-intensive and expensive projects needed prior to getting the foreclosed home on the market. This might happen because former residents may have to move in a hurry so they tend to leave large amounts of trash and even some damage to the house.
Foreclosure cleanouts are almost always needed once a property is vacant before you can even think of showing the home to prospective buyers.
The problem for too many real estate professionals is that they approach the foreclosure cleanouts in a haphazard fashion instead of thinking about it strategically. An effective cleanout process requires some planning.
Part of your plan is to determine when the cleanout needs to occur, how quickly does it need to be done, and - perhaps most importantly - who is going to do it?
Tips For Your Foreclosure Cleanout Plan
Determine what needs to be done first. Since foreclosed homes are in the foreclosure process for a number of months you should retain a service to care for the landscaping and property.
- Determine what he interior requires beyond cleaning and junk removal This can include removing stained carpets, repairing broken cabinets or lighting fixtures, and pest extermination. Any large junk removal should be done before cleaning the interior.
- Clean and restore the exterior of the property An exterior that is clean and uncluttered will improve the appeal of the property. Keep the lawn mowed and maintain any landscaping while ensuring that the property is free of clutter.
- Complete any junk hauling needs outside of the house It's likely that there will be junk in the garage, in the yard and in any storage sheds. These will need to be cleaned up and hauled away. Any broken windows or blinds should be repaired or replaced. This is a very important as it helps discourage vandals and vagrants.
The good news with this plan is that it does not need to be a "do-it-yourself" project for a real estate professional. In addition to outsourcing the cleaning, landscaping and pest extermination, you can outsource the junk hauling to a professional hauling firm.
Benefits of Outsourcing Foreclosure Cleanouts
Since REOs, short sales and foreclosure transactions tend to be complex and subject to sudden deadlines, the cleaning is often required on short notice. Often the foreclosure cleanout needs to be completed within a strict time-frame.
And, as we've already pointed out, many foreclosed properties require a great deal of work before they are even in a condition to be put on the market. While you could do all of it yourself, or with a small crew, it is still a costly endeavor.
Once you factor in your time and any cash you must spend, you'll likely find that outsourcing the work to a reliable and professional company is far more cost effective. Think of it this way: every hour you spend hauling trash and debris is an hour you could be doing something productive.
On the upside, a professional foreclosure cleanout crew can get the job done quicker, better and for less money.
Junk Removal and Cleaning Out Foreclosed Homes
Once you decide to outsource the trash removal part of your foreclosure cleanout plan, you need to determine which firm is the right one for the job.
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 cleanout 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.
Real Estate Ready
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.
As a professional firm, Junk King will ensure that the property is left safe and clean, which is especially important when the property was vacated suddenly and large amounts of junk where left behind.
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).