When it comes to agents that list bank owned properties, they seem to fall into two distinct categories. The first group takes their time and makes sure the house is completely ready to be sold. These agents make sure that the house and yard are clean and presentable. They also post the 18 day notice for the foreclosed owner to remove their belongings. Then, after the 18 days are up, they have everything removed to storage, leaving the house in great shape to be sold.

The other group of agents don't bother with all those steps. They don't wait for the home to be cleaned or, sometimes, even for the tenants to be evicted. They just throw their sign up and put it on the MLS. Because of this, the home is often still fully furnished when it is being shown to prospective clients. This leads to nothing but problems.

Because people have a tendency to covet what they see, furnishings left in REO listings lead to nothing but trouble. You can tell your buyer 100 times that none of the furnishings are going to  be included with the sale, and they will still dwell on it and bring it up. Often. Questions about what happens to the furnishings and why they just won't leave them. " Maybe you can call the listing agent and tell him not to do the clean out" is something you will probably hear at least once. Some buyers will go crazy for the mirror over the mantle and insist it must be a fixture. When you tell them it is not, they will insist that you call the listing agent and offer money to buy it. It is not the listing agents property to sell. It is not the banks property to sell.

For all agents out there, be very firm from the start regarding the furnishings in a bank owned home. If you don't, it will cause nothing but problems. You need to quench the desire for that nice couch from minute one or your buyer may start obsessing over ways they can acquire it. Buyers, you need to realize that there is no way you are going to be able to get the furnishings. The bank may be taking the furnishings and throwing them on an enormous bonfire, as you suspect. They still won't give them to you. They may languish in a dust filled storage bin for 20 years until they deteriorate. You still can't have them. Be happy with the great deal you got on the house and let the rest go. Believe me, it's not worth the mental anguish.