Do we, as Realtors, need to start checking county records to see if the house the buyers are in love with is on the Meth house list?
I got a call from the buyers friend who is searching for help with a Meth house issue.
Seems these buyers bought this house 2 years ago and within a few months after they moved in their dog died. They couldn’t figure out why. They continued to live there another year until they got a letter in the mail from the county that the house was used to manufacture and sell Meth.
They moved out right away because the wife was pregnant. They continued to make payments while they were trying to have the mortgage company help them. We all know what that result will be...no help at all. The bank just wants to do a loan modification. What about the Meth?
It will cost about $160,000 to gut the inside and start over. The house is only worth $200,000.
Who can they go after??? According to the attorney only the seller for 4%. The attorney will eat up most of that.
All they can do now is let it go into foreclosure and ruin their credit.
How sad is this situation for these 1st time home buyers?? Is there a Meth list somewhere that all of us should be checking before we put buyers under contract?
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