Does your REO Bank have an Emergency Preparedness Plan? Most do not. When I listing to the weather channel regarding Hurricane Irene, it came to my attention that none of the Asset Manager that the agents and brokers I work with on the east coast has communicated any form of emergency preparedness to the listing agents. Are they under the assumption that some of these dilapidated properties will survive hurricane winds and/or the tornadoes that often spawn off the storms? Are they under the impression that flooding will not occur in the low areas?
Perhaps, the disaster is being welcomed as a quicker way to get rid of the property or properties? a quick insurance write off, etc. Either way, why not be proactive and not reactive?
Brokers and Agents, since we are still in the Hurricane season, are your properties prepared for the storm?
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Do you have contractors in place to rush in at the last minute to board up the properties?
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Do you have bids in place from the contractors that you can send to the AM today?
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Have you contacted the asset manager regarding the storm? We all know that there are several asset managers that are in different countries. GET PRE_APPROVAL IN WRITING!
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Don't forget the HOA, do they allow such measures of boarding? We all know how fickle some HOAs can be. If approval is required, you should get upfront approvals at the onset of the listing agreement or assignment.
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Take photos and/or video all high rish homes or homes in inventory for insurance purposes.
Prepare before the storm!
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