Property Preservation Bidding and Estimating Process

What Is Property Preservation Bidding Process?

If you're a property preservation provider, it's a common activity to do before submitting a maintenance order through the servicing company's web portal or applications. The more precise bids you can write, the more chances you'll have of getting approved. 

Since you might not do these types of bids on a regular basis if you simply handle simple maintenance work. It is still vital for maintenance vendors to understand how to estimate a task appropriately.

The Initial Secure work order is generally the first time a preservation field rep visits a property. During the initial visit, it is imperative that all bids to place the property in conveyance condition are provided regardless of the investor. As a result, you must know how to write a great and attractive bid. Similarly, poor bid practices must be avoided.

The Best Bidding Practice -Property Preservation

A perfect bid contains the following things 

Type: Select the dropdown of the vendor web bid portion that most closely matches the bid item. If a selection is not applicable to the bid, choose “Other”.  

Description: The description is one of the most important aspects of the bid. When applicable always provide the location, dimensions, materials, source (if mold or damages are present), and any other factual details pertinent to the bid. 

Quantity: The quantity is the number of units per rate. Photos must support the bid quantity.

Rate: The rate is the $ amount per quantity. In order to prevent excessive bids, utilizes RepairBASE/XactPRm to verify labor and material costs.

Photos: Finally need to upload relevant photos to prove your bids description and other aspects

Example & Explanation 

Replace (24 x 24" )  (kitchen) Cabinet door to match existing as best as possible (Broken & hanging on)

The bid above includes the right location, type of repair, and size. Furthermore, the cause for the repair

Bad Bids

Don't write too vague a description. Don't forget about the correct dimension of the damaged region, the consequence if it isn't handled, and the supplies required.

Example & Explanation 

Trim 2 trees

The bid above does not include the right location, reason, and size. 

If you're a Property Preservation Vendor who's having trouble processing/updating work orders through vendor web/apps like Safeview login, MCS vendor360, Altisource VMS, MSI web portal, and so on, you may Hire Team360.  

Team360 is good at job bidding and will help you getting more approvals