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Bank owned property of the week

By Rich Mielke

Real Estate Agent with REMAX Results, Frederick MD

October 23, 2008 08:07 AM

I showed a bank owned property today. This was a typical REO listing. The MLS had just one photo, very little information, no room sizes. It listed all the positives, pool, koi pond, terrace, deck, In-Law Suite. No need to call for an appointment says the listing, they even have the combo in the agents remarks. They are even offering closing help, SWEET! Needs a little TLC, Hmmm?

I arrive early to familiarize myself with the house before my buyer get there. Here are some of the things I see.

front door

enterance There is a sidewalk somewhere under all those weeds. I go inside to check out the lower level In-Law Suite. mold

moldy walls

more mold

The entire basement is like this!

I took a few quick photos and got out on there ASAP. Needless to say, my buyer won't be making an offer on this one.

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Jim Frimmer

HomeSmart Realty West - San Diego, CA

Realtor & CDPE, Mission Valley specialist

I was hoping for a picture of the koi pond with huge, beautiful koi in it. I really like the yellow koi. I expect you to go back and get us some pictures of the koi and the koi pond. LOL

Oct 24, 2008 06:18 AM

Not a real person

San Diego, CA

There was a story in the paper here recently about a bank that got a $13,000 bill from the City of Chula Vista. The bank called the city inquiring what the city did for $13,000. The city replied, "It's not what we did, it's what you didn't do." Chula Vista requires owners to maintain the property, regardless of who the owner is (bank, person, corporation) and where they are located (Chula Vista, Maryland, France, Saudi Arabia).

Oct 26, 2008 04:55 AM

Ken Montville

RE/MAX United Real Estate - College Park, MD

The MD Suburbs of DC

Rich, whatsamatta? A little mold. Shucks, a little bleach and paint and it'll be good as new.

Until all the invisible stuff behind the drywall grows back and through the entire house.

Oct 26, 2008 10:16 AM

Garreth Wilcock

Sherlock Homes Frisco - Frisco, TX

Sherlock Homes Frisco

Wow. That's some weed forest

Nov 08, 2008 07:46 AM

Bank owned property of the week

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