Abandoned Vehicle Removal

Abandoned Vehicle Removal For The Property Preservation Contractor

What’s the chances of you finding a pretty decent car abandoned at a foreclosed property? Pretty good actually.

The same is true for boats, motorcycles, jet skis and so on.

What’s the chances you can make them your own? About one in ten million.

The latest HUD Mortgagee Letter, Mortgagee Letter 2010-18, states in Exhibit A, Section 2, Acceptable Conveyance Condition:

“At the time of conveyance to HUD, a property must be undamaged by fire, flood, earthquake, hurricane, tornado, or mortgagee neglect, as set forth in and required by 24 CFR §203.378. For condominiums that were secured by mortgages insured under §234 of the National Housing Act, the property must also be undamaged by boiler explosion, as required by 24 CFR § 234.270. In addition, the property must be secured, the lawn maintained, winterized (as applicable), and interior and exterior debris must be removed with the property‟s interior maintained in broom-swept condition. This includes the removal of any vehicles and removal of any personal property in accordance with local and state requirements. Mortgagees are responsible for the damage to, or destruction of, properties due to their failure to take reasonable action to secure, inspect, preserve and protect such properties.

If a property is damaged due to mold resulting from the mortgagee‟s failure to protect and preserve, the mortgagee must remediate the cause of the mold and complete any other required P&P actions to minimize further mold and/or water damage prior to conveyance of the property. “

Be sure you read “Acceptable Conveyance Condition.” See that part stating “This includes the removal of any vehicles and removal of any personal property in accordance with local and state requirements.”

The part that states “in accordance with local and state requirements” is what makes it highly unlikely you will pick up a nice vehicle at a property you are servicing.

Read Exhibit A, Section 2, Acceptable Conveyance Condition” again and again. You might as well go ahead and memorize it word for word because in reality that paragraph is what Property Preservation is all about. It is Property Preservation.

It’s also proof that you better know what you’re doing. You better know local and state requirements concerning everything you do.

It’s also proof that you better have a legal advisor that knows more than you do about local and state laws.