NKS PROPERTIES works with servicers throughout the United States and its territories to ensure the properties they are responsible for are preserved and maintained in a manner that complies with the regulatory guidelines for the loan type as well as any code compliance legislation for the area. We work with our vendors to secure the property, remove any debris, conduct regular lawn maintenance, and winterize when necessary. We share a common goal of getting a property into conveyance condition.
Initial Secure
This property preservation service authorizes NKS PROPERTIES to perform required services based on the applicable investor guidelines and/or client requirements. For loan types with no applicable regulatory guidelines, the HUD guidelines will be followed. Services typically include changing an entry lock, locking all windows and doors, winterizing to the applicable specifications, and maintaining the exterior grounds, when in season.
Winterization
This property preservation service authorizes NKS PROPERTIES to winterize the plumbing at each property to prevent freeze damage, according to the investor requirements for each loan type.
Lock Change
NKS PROPERTIES will change the lock(s) at each property to the key code according to the regulatory requirements and/or client requirements. For loan types with no applicable regulatory guidelines, the HUD guidelines will be followed. No additional property preservation will be completed in conjunction with this work order type, unless otherwise specifically requested.
Conveyance Condition Management
NKS PROPERTIES will ensure that all work required by the regulatory guidelines for each loan type is complete and that the property is in conveyance condition. If any work is needed to bring the property into conveyance condition and can be completed per the published investor guidelines, the services will be completed in conjunction with this work order. If the work cannot be completed per the published investor guidelines, an estimate will be provided to bring the property into conveyance condition.
Debris Removal
This property preservation service authorizes NKS PROPERTIES to remove interior, exterior and/or hazardous debris at each property based on client requirements and/or the investor specifications for each loan type.
Pool Securing
NKS PROPERTIES will secure each pool or hot tub based on the regulatory requirements for the applicable loan type. This could include covering, decking, screening, pumping water out of the pool, chemical treatment and/or padlocking the pool gate, if required.
Lawn Maintenance
NKS PROPERTIES will perform the necessary lawn maintenance to maintain the property’s appearance, prevent further degradation to the grounds and relieve the property of any existing or potential violation of local ordinance. Lawn maintenance includes mowing the lawn, weeding, edge trimming, sweeping of all paved areas (sidewalks, driveways, patios, etc.) and removal of all lawn clippings, related cuttings, and incidental debris. The disposal of all clippings and incidental debris is removed in compliance with jurisdictional requirements.
NKS PROPERTIES also provides an automatic grass cut program, where we will maintain the grounds at the property according to the applicable investor guidelines for each loan type. We will continue maintaining the grounds at the property until instructed to remove the property from the program or when maintenance is no longer needed, as specified by the investor specifications for each loan type and/or client requirements.
Additional Property Preservation Types
Additional Property Preservation Types Include:
- Allow Access
- Re-Secure
