A follow up post detailing how to begin a search for finding work in the field of foreclosure inspections.
I have been developing this new blog, in part, by pulling my posts from different sites to have in one location. One of the more popular topics has been on the subject of foreclosure inspections. This is a follow-up to my post on the topic, which was included in the comments of my original, but I thought it could stand alone.
This topic seems to cause the most interest, so let me go over the steps for this type of work.
1. Each state has its own requirements from residential inspections, so I would look on my Info on Inspectors page to find out the basics of what you need to be an inspector: such as a license. For example, in Texas you need over four hundred hours of education credits, and then you need to pass an exam. Texas happens to be among the more difficult states to meet the requirements, and they are making it harder here. In some states you just need a contractor’s license. In other states, you just need to call yourself an inspector.
2. Most lenders like using firms that have an established working relationship with them. Many of these firms are national, but there are some local. I would go to your bank and ask to speak with either the mortgage officer or someone in charge of the REOs (this means real estate owned property, or in other words properties that the bank owns). Find out from them which firm they use, and if they would use an independent contractor. Many of the national firms were advertising for inspectors for foreclosures late last year.
3. Insurance company work is far better than foreclosure inspector, so thank you Bobi for bringing it up. Insurance companies need inspectors to evaluate homes for insurance applications, and although the require inspectors with the proper certifications for the state you are in, they do not require that you do a full inspection. Typically, it is a quick exam of the property and taking some pictures of the roof and home. The companies will hire inspectors on a contract basis. It is always better to have an entry, so speak to your insurance agent if he will put in a word for you. Otherwise, contact the main office in your area to find out about the process for being accepted as a contract inspector.
4. As a warning, many inspectors around the country have complained about a slow down in work. Most inspectors, including myself, look at other ways to generate income, so plan on inspections being a part of your income. You can make very good money, but you can also struggle. There are inspector associations, NAHI and ASHI on a national level, that can help you generate work through marketing tips and contacts, so you may want to join such a group.
Well, that is the first steps in a nutshell. Once you have explored those, let me know if you need further information. The only firm that I know which has hired people for this work has been First American. Good luck.