TOPIC: Fannie Mae 4262

Hey Guys,

I'm a complete newbie, so forgive the ignorance.  I've been contacted by a company from out of town to do visual inspection on an apartment complex.  These are part of their instructions-

"There are 224 units in the property and you would look into 5% which would be 11 in this case.  You would be making an appointment with a property contact we would provide to you. You would do a walk through of a representative portion of the property to visually observe the general condition and report any observed repair deficiencies. You should be able to see what you need to see in about an hour. You would take about 30 photos."

According to the contact, this is a simple walk-through of the property.  I think it's to let the home office know if the local managers are doing their job.  Has anyone else done one of these?

Thanks!

Sounds like Lease Inspection.  I did a few jobs for them a few years ago.  They require you to inspect a specific percentage of units.  Simple 2 page report with half dozen photos.  Easy work, miminal pay.

My understanding at the time was someone was buying the aparment complex.  They wanted a quick evaluation of the property.  You can drive by an apartment complex and have a sense of the condition but don't know until you walk thru a few units.  Usually have to schedule a few days out so the property manager can get permission from tenents to walk thru units.  About 1/4 to 1/3 of the individual units had people at home during the inspection.  Pic of the kitchen, bath, day room, exterior of building, and any major defects.  First time takes longer because you don't know what you are doing.  Next one you have more confidence.

Thanks Bruce, I appreciate the reply.  Sounds like the same thing, but not for the sale of the property.  Different company, same inspection.  Looks like I got the assignment, so I'll learn as I go.  Thanks again.