Over the coming months, BidDay Inspectors will have daily access to thousands of nationwide inspection assignments for bank-owned Real Estate Owned (REO) properties.
Prior to sale, each home is required to have a home and termite inspection. BidDay officially opened its system Nov. 19, to allow inspectors to apply for membership to the BidDay Inspection Network. After registering at BidDay’s Web site (www.bidday.com), inspectors can select up to five inspection territories (each with a radius up to 100 miles). When properties are available in a territory, BidDay’s system automatically emails a notification to inspectors, who can then quickly download orders to their computer, inspect the property, and upload the report file using a BidDay Preferred Inspection Software back up to BidDay’s Web site. BidDay will pay inspectors directly via electronic payments and will provide a master waiver to satisfy insurance requirements. The first inspectors to register will be the first to have access to this expected tidal wave of nationwide inspections, according to Rezek. Banks currently have over one million properties in foreclosure or REO status, and need to sell very large portfolios quickly. Inspectors will benefit as properties have lock box access and are vacant (with the utilities turned on) thus it will be easy to work these into their schedule.
Inspectors are the unsung heroes of this highly sophisticated coordination system for buyers, sellers, and vendors. With the ability to coordinate and sell over 100,000 properties monthly, BidDay.com makes it essential for buyers to have an immediate quality inspection, to reveal whether the property is an asset or liability.
BidDay's “Start to End Solution” receives portfolios of REO properties, prepares them for sale, promotes them to nationwide buyers, pre-qualifies buyers, empowers buyers to profile investment options, offers several sales choices, and then has a closing system that aids the buyer by automating loans, title/escrow, and insurance.
For more information visit www.bidday.com or call 800/689-0233. Download an eBroadcast of this press release.
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