Default Inspections (Cleveland, OH)

Default Inspections

Default inspections are a type of property inspection that is performed when a borrower has defaulted on their mortgage loan. These inspections are typically performed by a third-party inspection company and are used to assess the condition of the property identify any potential hazards and ensure that the property is safe for occupants.During a default inspection the inspector will typically check for things like structural damage pest infestations and health and safety hazards. They will also check to see if the property is in compliance with local building codes and regulations. The inspector will then provide a detailed report of their findings to the lender or mortgage servicer who will use the information to determine the best course of action for the property.Default inspections are important for several reasons. They can help to protect the value of the property ensure that the property is safe for occupants and help to prevent foreclosures. They also provide important information for lenders and mortgage servicers who can use the information to determine the best course of action for the property.It s essential for the inspection company to have a certified inspector with the right qualifications experience and knowledge in the field to conduct the default inspections in a professional and accurate manner. The lender or mortgage servicer should also ensure that the inspection company they hire is properly licensed insured and have a good reputation in the industry. In addition they should also consider the cost and the services offered by the inspection company.