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MEMO
#5002: Inspection Due Dates - 08/18/02
One of
our most important obligations to our clients is to ensure
that we complete property inspections by the required due
date. Certainly accuracy and attention to detail are priorities,
but timeliness in reporting is essential as well.
The HUD
guidelines clearly spell out our responsibilities in this
regard. If we fail to provide timely inspection reports, our
clients will not be reimbursed for the inspection cost and
in turn will not pay us.
In the
section titled General Inspection Requirements, FHA Mortgagee
Letter 2002-10 reads,
The mortgagee must inspect a vacant or abandoned property
every 25-35 days to determine whether preservation or protection
services are required, or more frequently as prescribed in
the regional variations.
The regional
variations do provide areas that require more frequent inspections,
such as the Chicago "hot zone." It is imperative
that you familiarize yourself with the guidelines for the
area or areas where you perform inspections.
The concerns associated with late inspections are not limited
to inspection cost issues. The inspection period prescribed
by HUD is designed to allow for prompt identification of any
property damage or condition that may contribute to property
damage. It's extremely important that we note any such conditions
as soon as possible and quickly take action to protect the
property. Failure to complete property inspections within
the required time frame (either to early before the 25th day
of the last inspection or to late after the 35 day of the
last inspection) can result in any damages to the property
being assessed to our clients. HUD has considered denying
reimbursement to our clients for damaged properties solely
on the basis of monthly inspections not being performed within
the required time frame.
Completing
property inspections by the due date will benefit you as well.
Prompt completion of inspections will lead to faster payment
of your invoices. Also, the faster your orders are closed
out, the sooner we can assign you more work, so your efforts
to promptly complete and send in inspection updates will result
in a steady flow of new orders.
We realize
that extenuating circumstances occasionally prevent the completion
of inspections by the due date, and we recognize that these
circumstances may arise on our end as well as yours. We want
to assist you in overcoming any such circumstances, and we
are always doing our utmost to improve and streamline internal
procedures.
We are
focusing our efforts to better address and balance the needs
of our clients and our inspection force. We rely on your continued
support and cooperation to achieve this balance. Your quality
professional work over the years has helped us to grow into
one of the leaders in our industry, and together we can continue
this growth and all become more profitable.
If you
have any feedback or suggestions in response to this memo,
please respond to the following link:
vm.alertresponse@safeguardproperties.com
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