The Bank Took My Supra

By
Real Estate Agent with Results Realty Services, LLC and Mossy Oak Townhomes
I had a Townhome in Kennesaw, Georgia that I had started marketing as a Short Sale. My clients were a nice family that had moved up into their dream home a few years ago. They decided to rent the townhome. Meanwhile, the townhome community fell into a lot of foreclosures and the value of the townhomes dropped about 60,000. The renters decided to move out because of the up keeping of the community. It turned into a situation where this hard working family could not afford to keep this townhome and it would not sell for what was owed on the loan. We had the home on the market to see if they were a chance of selling for a full payoff. The home owners decided to drop the price of the townhome and try to approach the bank with a reduction payoff (short sale). We were in process of hopefully getting an offer but with the home being empty the owners did not pay the mortgage one month (30 days) and the bank changed the locks on the door before we had that chance of getting an offer on the home. Well when the bank changed the lock on the door they also removed my supra lockbox. Since my lockbox was hanging on the access (door knob) to the home the bank had legal right to remove my lockbox. My advice to you is: do not hang our lockbox on your short sale listings.
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Rainmaker
256,460
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

I feel for you, as those boxes are expensive.   I hope you let Supra know the box is missing, so they can log that missing number

Jun 04, 2010 04:09 AM #1
Rainmaker
423,881
Jean Hanley
Coldwell Banker Kivett Teeters - Hemet, CA
Specializing in Folks Who Want To Buy/Sell Homes

That's just wrong.  The very least they could have done was call you or leave it in the house and call with the combo.  Those things are not cheap!

Jun 04, 2010 04:12 AM #2
Rainmaker
560,129
Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team
Ken's Home Team LLC. - Vancouver, WA
- SOLD IS OUR FAVORITE 4 LETTER WORD -

I am sorry that happend, I never put my boxes on the door I always find a better place to put them. I also must say I think there is more to the story that they may not be telling you.  I have never heard of a bank changing the locks on a home that is only 30 days late. If that was the case then there would be a lot more homes in this situation

Jun 04, 2010 04:16 AM #3
Rainmaker
268,914
Dan Rosenberger
Harvest Realty - Westfield, IN

Usually they leave the old door knobs inside the house, so it might be there with your lockbox still attached to it.  If not, you should try to recover it.  The field services company that did the lock change probably left a sticker on the door with a contact phone number.

Jun 04, 2010 04:17 AM #4
Rainmaker
1,251,659
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I don't hang them ANYWAY...I place them on the porch floor * then they can be picked up and opened without agents bending over and stooping to the level of the door knob.

Jun 04, 2010 04:19 AM #5
Rainmaker
1,480,478
Maureen McCabe
HER Realtors - Columbus, OH
Columbus Ohio Real Estate

Here I was thinking an old Toyota Supra was in the garage...

 

 

Jun 04, 2010 04:20 AM #6
Rainmaker
69,582
Janet Fetterman
Royal Shell Real Estate Inc - Ocala, FL
Selling Luxury Lifestyles...

Often times the locksmiths just place them inside the house- did you speak with the property preservation company or the new listing agent?

Jun 04, 2010 04:23 AM #7
Rainmaker
427,439
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

I'm sorry for your client but this makes no sense to me. The bank changed the locks after the client missed just one payment? Sounds unlikely. In Illinois they can't touch the house until after foreclosure which by law takes a minimum of seven months, and can't even start until the owner has missed at least three payments. A short sale is still owned by the owner -- no one touch it until after foreclosure! Maybe your client wasn;t being completely upfront with you about the number of payments missed.

Jun 04, 2010 06:31 AM #8
Rainer
8,900
Linda Suidan
Results Realty Services, LLC and Mossy Oak Townhomes - Duluth, GA

That is a great idea about contacting Supra Lockbox. I will do that. I thought the locksmith person would of been nice enough to call me since my sign is in the front yard with my number on it. The old lock was on the ground. Signs were posted in the windows. The owners still owned the home until they actually foreclosed so they did enter the home legally. The lockbox was not in the home.  I called the bank and they denied ever changing the locks but again the signs were in the window. I made a police report and took photos. My clients were pushed to the limit and did not want to proceed with anything and wants the bank to foreclose. That was back in December of 2009 and it is still not been foreclosed on and/or re-listed. Interesting stuff and real stories of what is going on.

Jun 06, 2010 07:01 AM #9
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Rainer
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Linda Suidan

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