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Property preservation involves the securing, protecting, and preparing of properties for sale that have undergone foreclosure, default, or are in bank-owned status. The financial hardships that cause these unfortunate situations leave prior homeowners unhappy about losing their homes. As a result, many of these homes are left in poor and sometimes unmarketable conditions.

The rise of REO (real estate owned) properties have created an influx of vacant and/or abandoned homes. As they arise, so do companies that provide property preservation services.

Many lenders and financial institutions are finding it easier and more cost-efficient to use established property preservation companies. Lenders and mortgage companies have even created separate departments that handle properties that require property preservation services."