When it comes to Convey Maintenance, we understand the importance of sticking to schedule and getting the job done right and in compliance to avoid costly fines.
Convey condition or conveyance condition refer to the standards a property has to meet to be considered ready for conveyance, meaning it must be undamaged by any surchargeable event, such as earthquake, flood, tornado, hurricane or fire.
HUD requires a property to be in conveyance condition before they will allow the mortgagee (aka the lender) to transfer the property over to them so they can be reimbursed as per HUD’s mortgage guarantee program.
When a property is scheduled to convey to HUD, a mortgage servicer has a very small window of time to assure that the property is in convey condition.
We will ensure that all work required by the regulatory guidelines for each loan type is completed and 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, we will perform these services with the work order. If the work cannot be completed per the published investor guidelines, we’ll provide an estimate of the service cost.
Contact Us to lear more about our Convey Maintenance services.