In the worst cold snap in 20 years, Tennessee is anticipating 60 straight hours below freezing. The reality is that virtually everywhere there are foreclosed properties, it will be a nightmare. The main reason I am writing this Article is because the aftermath of this Storm will be a huge influx of Work Orders for Winterizations.
Make absolutely no mistake whatsoever, the Financial Institutions, Portfolio Holders and Investors will be looking for every possible reason to hang the replumbing upon. Go no further than the current trends to back bill tens of millions of dollars each year.
If you are half assing your Winterizations, you are going to loose. Going forward, if that air pressure does not hold at least 30 minutes, you would be well advised to fail it. Just because the spring and summer seasons are around the corner, the files on these properties have extremely long memories.
One of the biggest problems with Winterizations is that Brokers and Buyers are all the time coming into the properties and cutting on the water to inspect properties. More times than not, none of them sign in. For this reason, we always state that we do not guarantee ANY Winterization. We only Certify that it was performed.
If a Mortgage Field Services Company does not accept that caveat, then you would do yourself well to leave them quickly.
