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Having a home winterized? Beware!

I wrote a post some time ago about the bank changing the locks and winterizing one of my short sale listings. When the time came around for inspections to be completed, leaks in the plumbing were discovered. The buyers I am working with decided to move forward with the transaction and have a plumber repair the leaks.

I contacted the bank to let them know that the property had been improperly winterized and that the plumber also said it wasn't done correctly which resulted with the home having water leaks. The bank said the short sale listing was being sold as is and no repairs would be made. The bank didn't seem to care if the company they hired to winterize the home did a crummy job. The pipes in the home were fine until the bank got involved.

They referred me to the customer service department who then contacted the property preservation department (via email) who was in charge of the winterizing and changing of the locks. No answer. The bank gave me a message line to call and after leaving numerous voicemails, again no answer. The bank said they had no idea which company was hired to winterize the home but assured me the property preservation department would be contacting me within a day or two.

We went back to the home to meet the plumber a few days later and I still had not received a call back from the company who winterized. Sure enough they came back in the home (someone gave them a key) and re-winterized the property. Why would a company re-winterize a winterized home??? They heard what had happened and came back to cover themselves by trying to winterize properly after the damage had already been done. Bad very bad. I am wondering why these people are not being held accountable by anyone. The plumber had already repaired many homes in Colorado Springs that were not winterized properly.

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Posted by Colorado Springs Realty Patricia Beck on 03/26/2009 06:54 PM

Comments (16)

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16 Comments on Having a home winterized? Beware!

MAR

I fear there will be thousands of homes with winter damage. Banks just aren't set up to handle real estate--thank goodness--and no one there really seems to care.

Interesting situation. When the bank is selling as is, they should still protect the value of the property, but maybe this is outside of the realm of any sort of attention they want to give to such things.

We have a very similar situation in one of our listings. And the buyers have decided to not purchase the home, due to their concern that there might be hidden leaks in the walls that might manifest after the closing. It's amazing that these banks, who are losing money like crazy on some of these properties, aren't doing more when these bogus winterizations are done. Good luck!

Patricia, as the inspector, I have run into this very problem. I met my client a plumber and the local utility rep. at the house to have the water turned on. The utility rep. installed the meter, turned on the water and immediately I found a leak. The utility rep. shut the water off, (his job was done). The plumber said the house was "Incorrectly winterized" (his job was done). I was left with a very concerned buyer who asked me "Now what?" I calmly pointed out the tags that were placed by the property management company and said, "I will call your agent, and he will have to call the bank and the will have to call the property management company." These are the proper steps to take as every knows. The plumbing should not be touched until the company responsible fixes the problem. In this case all parties involved responded the way they should. In three days the problem was solved.

MAR

I had the same thing happen recently with a bank owned home. Luckily the bank was very cooperative and fixed the pipes.

This illustrates Patricia how banks so aften are ill equipped to manage real estate deals.

John- You are right, we had a pretty bad storm yesterday and it probably caused damage to many homes.

Bob- This home was a short sale listing and the bank still came in to winterize it. Would have probably been better had they left it alone.

Becky- Buyers have to weigh everything out. If they spend a few hundred dollars on plumbing repairs but are getting a bargain on the home it may still be worth moving forward.

Tad- We put everything on hold and waited and waited on the bank...unfortunately they did not respond nor did property pres. No one is taking responsibility.

Bill- I wish I working with that bank instead! Ha!

Gary- They just cannot manage all of these properties and when something goes wrong they don't know how to handle it. They are definitely not property management companies!

Patricia, I can just say DITTO. I recently had a similar problem. Halfway through the inspection my client decided to walk as there was just too much work so we didn't even get the water turned on. A few days later I get a call from the listing agent who was perturbed because the faucets were running but it was from the winterizing not from us.

MAR

Marchel - I guess it's better for the buyer to just move on sometimes!

What a nightmare! So frustrating on so many levels, it just makes you crazy! It seems that by now, these bugs would be worked out, doesn't it? That the banks would have reliable people on board, etc?

Patricia: Oh that does not look like much fun at all. Florida in the winter ahhhhhh.... Problems with listings, banks and REO's........aaarrrrgggghhhh

MAR

Yes, it is a story we hear again and again and more so with the season warming up soon. One of the things that really bothers me is that many times the bank won't fix the issue and the plumbing repair costs gets passed on to the buyer. Why should the banks always get off "Scott Free"?

Come to think of it, what is the origin of "Scott Free".

APR

Patricia - Brrrr cold picture you've got there.

Sorry to hear this situation. Sometimes the realtor must be on top of it I guess all the time to make sure things are done properly. Short sales can be a nightmare. Sorry to hear this one.

How frustrating for you. That kind of weather isn't much of a problem for us here in Middle NC, so I sympathize with you!

Sabrina- That's what I've been wondering?! About the origin of "Scott Free" I have no clue...something to look into when I find free time :)

Patricia- After a ton of phone calls, I tracked down the right person who said the buyers would be reimbursed for all expenses since the company who winterized was at fault.

Sandy- It sure would be nice to live in a warmer place! At least we have a lot of sunshine here even when it's cold!

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