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Buying or Selling a Home/Starting a Home Foreclosure Moving Business

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Expert: - 12/26/2008


Question
Mr. Ray,

I saw your reply in regards to the Foreclosure Moving Business and found it
very insightful. How would you get business for such a business from the
banks? Would you approach a physical bank in regards to moving out their
foreclosed property? How would you identify banks and who would you get in
contact with to market your services?

Thanks!

Brian

Answer
Hey, Brian.

Generally, there won't be anything significant to move out of a foreclosed home because at that point the owners have already moved. However, the home probably is in deplorable condition since the owners won't spend the time or money cleaning it or having it cleaned.

However, there are instances where the owners stay until the Sheriff comes to evict them, and there is the possibility of hooking up with the Sheriff to accompany them and move everything out if it comes to that. I suspect the bank probably hires the moving company to accompany the Sheriff, but that might not be true since Sheriffs often have several properties that they go out to take care of at the same time, and they may or may not belong to the same bank.

If I were starting such a business, I would first contact my own bank where I do business and ask them. If you've been a patron of that bank for a long time, they should have someone who can point you in the right direction.

A phone call to the local Sheriff's department might also shed some light on how they find the companies to accompany them to the properties.

Hope that helps.

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Russel Ray

Expertise

Through home inspections, I provide an education about real estate. I'm one of those rare home inspectors who has been involved in real estate in many different capacities: as a Realtor (in Texas), as a property investor/flipper, as a teacher, and as a marketing expert (for Realtors and home inspectors). I believe that my experience as a Realtor and property investor provides me with a different viewpoint about home inspections in that I work for my Clients, but when there are other people involved in helping my Clients, then I firmly believe in helping them, too. That includes Realtors (both the seller's and the buyer's), repair professionals (e.g., plumbers, electricians, etc.). If I can get all the players (seller, seller's Realtor, buyer, buyer's Realtor, and repair professionals) playing in the same sandbox together to accomplish goals as a TEAM (Together Everyone Accomplishes More), then I believe I have succeeded in my job as a home inspector. My profession is, in my opinion, much more than simply documenting the condition of a property and then take the money and run. I am also a rare breed in that I don't believe that one inspection fits the needs of all Clients, and I have led the industry in understanding that fact. For example, the goals of a property investor are far different than the goals of someone buying a property to live in. The goals of a seller (a pre-listing inspection) are far different than the goals of a buyer (a pre-purchase inspection). To that end, I offer 14 different types of inspections, e.g., STANDARD, LIST, RENTER, BASIC, MAINTENANCE, SPOT, and more. I believe in giving the benefit of the doubt to all professionals in whatever industry they represent until they prove me wrong.

Experience

Over 42 years in all aspects of real estate--building homes, renovating homes, inspecting homes, Realtor.

Organizations
National Association of Certified Home Inspector, Better Business Bureau of San Diego

Education/Credentials
Graduate of Texas A&M University; College Station, Texas

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