So I got assigned a pre-listing where I needed to verify occupany within 24 hrs. I arrive at the property and peeking into the windows I see no furniture, no personal belongings (couches were already outside) and I even asked the neighbors if anybody lived in the property. All indications that the property was left vacant. I slap my lockbox and order my rekey and confirm with the AM system that we're a go with the status. I make it a habit to leave the occupancy letter just incase. Low and behold I get a call the next morning from the owner of the house and he was inquiring about the letter! I explained to him that he no longer owns the property and the bank has hired me to sell the property. Naturally he insists that its still his property, the bank never sent any kind of warnings. I had to call off the remaining tasks and revert to a occupied status. The AM was not happy, and of course now I need to assist with the evict. Who has this happen to? I assume we can make these mistakes with all the assets we need to followup on. I'd like to hear some stories. Did you not know it was occupied and rekey a home? Did the AM give you negative scores for giving the wrong info? Inquiring minds want to know...
HI Daniel . I had this very thing happen. The occupant was staying with someone else but had belongings in the house. I explained the situation to the asset manager and he was understanding. Now I leave the occupancy letter for at least 24 hours before confirming occupancy.
Hey Daniel, I have had something similar. I did my occupancy and found the property vacant, made entry as requested by the bank. I had the house winterized and re-keyed. I even verified with the bank before I did it since the power was on and the home seemed to be in a state of rehab, new carpet, paint, HVAC ducting was all inside. They gave me the go ahead. I had it all done. I did my weekly check and found it for rent and the rehab was about done at this point. The key code they had me use is a very widely used code and it seemed the homeowner must have had one. I reported this to the bank and they got upset with me. What saved me was I asked them before I actually did anything, I had their approval. They are still monitorring, actually I am, monthly. The home is still for rent. Who knows what is going on, surely not me.
Hi Daniel - I haven't had that particular scenario happen...but many times all the blinds and shades are drawn and neighbors have no idea if they've moved. I always contact the utility companies b4 I go, to see if gas/electric/water are on. If even one of these utilities is on -- I let the AM know its probably occupied and ask how they want to proceed.
First of all, thanks for the blog and because you have shown a commitment to REOPro, I have added you as a Featured Member.
Now for the question, I can’t say I have ever had this type of situation however, I would suspect that not getting occupancy status correct would leave, at the very least, a bad taste in the mouth of that particular AM. As for a negative mark on your metrics, just keep in mind it’s about averages so even though this mistake isn’t one you want to repeat, as long as you have a strong history of getting it right, then you might can chock this up to the “learning curve”.
Good luck and, I will definitely pay attention to this one, I want to know what other will say.
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Now for the question, I can’t say I have ever had this type of situation however, I would suspect that not getting occupancy status correct would leave, at the very least, a bad taste in the mouth of that particular AM. As for a negative mark on your metrics, just keep in mind it’s about averages so even though this mistake isn’t one you want to repeat, as long as you have a strong history of getting it right, then you might can chock this up to the “learning curve”.
Good luck and, I will definitely pay attention to this one, I want to know what other will say.