Short Sales- Who Is Responsible When Someone Breaks Into My House?

While it is understandable that lenders are attempting to make sure that properties aren't abandoned, they hire companies that don't necessarily have the lender's or seller's best interest in mind, but only their own.  In this situation, it is clear that the property wasn't abandoned, and the company hired to "secure" the property should have reported this to the lender.  But they won't make their money that way.  It would be nice if there were some checks and balances to insure that this situation doesn't occur, but given how the banks have handled everything over the last few years,  I think it is doubtful we will see it.

I tend to agree.

I am not a lawyer though many of my counterparts think I should be.

I say contact an attorney and have them send a certified demand letter to the lender that their agent caused damage to your property and their changes allowed it to be burglarized.

I know your HO insurance will pay, but the deductible should be the lenders responsibility.

Good Luck.

If the property was furnished or still had the owner's contents, then it would not appear abandoned.  However, if there was no furniture and anything left in the home, then it could definitely appear vacant and abandoned to anyone the lender sent out to check on it.  I would think the bank would not be sending anyone out if the mortgage payments were all being made on time. 

Just because someone is trying to do a short sale, doesn't mean they have not abandoned a property. 

I have never heard of a lender securing a property while in the short sale process. The home owner still technically owns the home at that point. Something seems to be missing from this story. Not sure what it is, but it just seems not complete. 

It would be interesting, if anything that was stolen was identifiable, to check with some resale places, and see if someone tried to sell them.  Almost sounds like the company sent to secure the property may be in cahoots with the theives.

The only time I have seen this happen is if the home has gone to a Sheriffs Sale, then the REO agent drives by weekly to check on it. 

I have asked many of my sellers to move a relative in, so cars are there so they won't have the Abandoned placed on the house. 

Even if they do, on the door is a sticker that says to call if the home is not abandoned. So in one case I had buyers who were buying a short sale and while we were there doing the inspecion the note was placed on the door. 

Weird with 3 cars there.

I took it off, came home and faxed to the listing agent. 

Even at this late date, no horror story about short sales suprises me. The same goes for foreclosures.

I guess it depends on who defines the word, abandoned.

I have several short sale listings.  A majority of them are occupied by the homeowner.  Occassionally I have sellers who are fed up with the process and wind up moving out prior to the short sale completion but they typically remain in the area and continue to check on the status of the property as we also do.  However, I currently have a short sale listing where the homeowner has moved on and out of the state completely.  After the home had been vacant for about a month the lender slapped a vacancy sticker on the window and changed the locks.  I immediately contacted the lender to inform them that I have a buyer in escrow ready to close the short sale transaction.  The bank sent me the key Fedex. 

After two buyers have walked during the purchase process the home has remained vacant and unfortunately vandalized several times.  Apparently the rear slider doors have been lifted out of the tracks and removed for easy access.  I believe that I resolve this security breach with each subsequent visit only to find another avenue discovered for entry.  The condition of the home is slowly disintegrating to the point that it is far more of a burden on me than an asset.  The particularly interesting aspect to this story is that Bank of America has never set a foreclosure date on the home.  It appears as if they do not want to take it back.  So I ask myself, who is ultimately on the hook for liability with regards to this home?