Clear Capital, a property valuations company, has introduced the Condition Conformity Inspection, a new report that helps banks and lenders determine whether their vacant, bank-owned homes are at risk of contributing to urban blight. The Condition Conformity Inspection is a visually rich report that provides an assessment of the property condition in relation to its neighborhood, allowing loan servicers to confidently determine whether additional maintenance is necessary, Clear Capital says.
‘From listening to our loan servicing customers, we understand their need to know the condition of their properties in default and how that condition positively or negatively affects the neighborhood,’ says Kevin Marshall, chief information officer at Clear Capital. ‘We are really excited to offer the Condition Conformity Inspection. Our customers will be able to identify and remedy a potentially negative situation, reducing the likelihood of being fined by local municipalities or incurring headline risk.’
Condition Conformity Inspections bring together subject property and neighborhood information into a single, easy-to-read form that includes visual tools such as images of the subject property, street views, the ten closest neighboring homes and a map of the neighborhood. These inspections also include narratives on the condition of the subject, its conformity to the neighborhood and possible deferred maintenance issues.
Source: Clear Capital
