Foreclosure Fire Sale. Those sirens you hear may not be the fire department.

By
Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

Poinciana Florida Foreclosures

Hi folks. Over the last couple of weeks I have sold 3 houses in Poinciana Florida to one of my investor buyers. A few days ago they called needing to get in one of the houses to do some measurements. They needed in ASAP. Now since they hadn't even closed on the house yet I asked them why there was a rush.

The answer was that they found a guy on Craigslist who was being foreclosed on and he was having a sale that day. He was selling everything. Doors, fixtures, switch covers, cabinet knobs, toilets, sinks, vanities, kitchen cabinets, counter tops, HVAC system, windows, carpet.....EVERYTHING!! If it could be removed it was for sale.

I wonder what his lien holders would think about this? 

I wonder if he'll knock holes in the walls on the way out?

And the funny thing is that if you ask him I'm sure he'll say he's a victim. When what he really is is a thief. What say you?

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Chris Ann Cleland 12/30/2010 01:04 PM
Location:
Florida Osceola County Kissimmee Poinciana
Tags:
foreclosure
reos

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Ambassador
3,090,271
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Since all of those items are likely financed into the loan that is being foreclosed, he's definitely a thief.  I'm sure the mortgage company will bring him up on charges of vandalism.

Dec 29, 2010 03:24 AM #6
Rainmaker
709,157
Petra Norris
Lakeland Real Estate Group, Inc. - Lakeland, FL
Realtor, Lakeland FL Homes for Sale

Bryant - He is a thief.  I'm sure when he bought/financed the house it included the kitchen, knobs, bathtub etc.  It did not belong to him. FRAUD. 

Dec 29, 2010 04:41 AM #7
Rainmaker
459,017
Kim Boekholder Utah Real Estate
Results Real Estate 801.580.5624 - Draper, UT
Broker, Results Real Estate

I've seen them strip it down to the stud's removing all the drywall and wiring too.  Its a shame for sure but not uncommon.  With that being said  I have yet to see it advertised that all of it was for sale though, thats a new one.  

Dec 29, 2010 06:09 AM #8
Rainmaker
368,840
Miriam Bernstein, CRS
Rochester, NY

If the guy is a thief, what then are the individuals who buy the stuff he is selling?

Dec 29, 2010 06:56 AM #9
Rainmaker
189,486
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

That is out and out thievery. Not only will he be unhappy but whomever participates may also be unhappy. Don't know about Florida but in Oregon it is unlawful to receive stolen property regardless if you purchased it or not. Before I purchased anything from this sale I would want to know what the answer to that question is.

Dec 29, 2010 07:38 AM #10
Rainer
241,927
Justin Dibbs
Pearson Smith Realty - Ashburn, VA
REALTOR® - Ashburn Virginia Homes for Sale

Thief all the way.

Dec 29, 2010 07:45 AM #11
Rainer
217,285
Andi Grant
310-508-4354 | FirstTimeHomeBuyerRealEstate.com - Los Angeles, CA
Helping 1st time buyers and home sellers in LA!

Oh wow.  This is another perfect example of people creating their own downward spiral into hell.  He's already lost his home and now after that tough break, 

  • He will go to court
  • Pay fines
  • Possibly make his local newspaper and news. 

This will also be on public record for when he

  • Tries to get another job
  • Tries to rent or lease an apt or buy another home. 
  • Meets a new lady/guy friend who wants to do a little investigation or background check.

He's going to feel like an idiot.

Dec 29, 2010 10:00 AM #12
Rainer
37,354
Gladys Webb
Kreative Realty LLC - Tuscaloosa, AL

Wow I guess he figured he'd get something out of this lost, bet he's not taking the money towards his bill!

That not uncommon I've sold a few REO and Frecloures and they can be trashed at times..like you said they feel they are the victim! people

Dec 29, 2010 11:46 AM #13
Ambassador
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Hey. I think that just became my latest REO listing. Today I was authorized to replace the appliances, the cabinets, the faucets, the doors, the lights--everything.

Dec 29, 2010 03:11 PM #14
Ambassador
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Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

BB, angry people do stupid things.

Dec 29, 2010 11:37 PM #15
Rainer
130,771
Kirsten Mellinger
Emerald Funding & Realty - Simi Valley, CA
Ventura County Real Estate

We know he's stealing...he knows he's stealing...doesn't want to admit it, but he knows.

Dec 30, 2010 02:36 AM #16
Rainmaker
4,797,311
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Bryant, we've all seen these stripped homes and it's really a shame.  In the past, I would certainly have laid blame on the home owner not taking responsibility for his actions.  Today, however, I've seen so many homeowners go through ridiculous hurdles to try to keep their homes and the lenders just really gave them the shaft, so now my feelings are mixed on this depending on the individual case.

Dec 30, 2010 02:42 AM #17
Rainmaker
1,026,990
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Had a hairdresser a few years ago who was overly zealous in her purchase of several properties during the boom;  she made some bad decisions and lost her shirt.  When the bank was in the process of foreclosing on one of her properties, she said she was going to strip the house - "after all, I paid for it", was her response. My reply was, "actually, if you HAD paid for it, the bank wouldn't be taking it back."  I never went back to her salon;  the attitude infuriated me.

Thief, plain and simple, who should be prosecuted.  Those who participate in the sale?  Receiving stolen goods.

Dec 30, 2010 03:18 AM #18
Rainmaker
2,302,822
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

This has been the case in nearly all the foreclosures I've worked this year.  Some have gone as far as putting holes in every wall in the house.  Many have stripped the house clean of everything of nominal value and a few have taken everything (even crown molding...one took parts of the fence).

To the best of my knowledge not one of these previous homeowners has been taken to court or arrested. 

I can only speculate the emotions involved in losing your home but it doesn't give you the right to damage or take property that is no longer yours.

 

Dec 31, 2010 12:48 AM #19
Rainer
432,184
Margaret C. Taylor
Century 21 New Millennium MD - Mechanicsville, MD
St Marys/Calvert/Charles MD Real Estate Agent

I have seen some of this devastation.  No matter how distraught how can the Seller not know what he/she is doing.  He/she is not thinking clearly and can only see that he/she is losing "MY home".  Even when we have a mortgage we DO think of the house as "OURS".  The stress of 'giving' it back to the bank must be overwhelming particularly if the bank has not 'appeared to listen to them.  Sorry I'm not trying to make excuses just trying to understand. 

Dec 31, 2010 01:14 AM #20
Rainmaker
414,607
Tni LeBlanc, Realtor®, J.D.
Mint Properties, Lic. #01871795 - Santa Maria, CA
Tenacious Tni (805) 878-9879

If his loan agreement with the bank allowed them to pursue damages for that (which many do), they can charge for the replacement and add that to what he owes.  Usually they just sell it as is which results in a larger deficiency for him, and a very low comp for his neighbors who may have to wait a lot longer to one day refinance their way out of their own bad loan. 

Very nice way to exit the neighborhood.  Not only have you stolen property for which you probably received a nominal amount (if you think current home buyers want bargains they've got nothing on Craigslisters!) but you have also hurt your ex-neighbors as well.  I guess if you can't have something, neither should anybody else.

Jan 03, 2011 10:41 AM #21
Rainmaker
1,142,060
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Hey guys. I was in a house last week and the owners had taken a hammer and knocked holes throughout the house. No big holes. Just hammer size. But there were 1,000s of them. Must of taken them days to do the damage. The entire house needed to be stripped to the studs.

It's a shame folks take out their frustration on the porperty. Grow up.

Jan 03, 2011 11:46 PM #22
Rainmaker
158,740
Deborah "Dee Dee" Garvin
C2 Financial - San Diego, CA
C2 Financial

Bryant,  It sure would be interesting is the materials could be sourced from the foreclosed property...seems to m the person buying the goods could be charged with receipt of known stolen property.  Neither one sound like nice guys....I cannot imagine the thinking of some people!

Jan 05, 2011 08:09 AM #23
Rainmaker
559,831
Tim Maitski
Atlanta Communities Real Estate Brokerage - Atlanta, GA
Truth, Excellence and a Good Deal

That's too bad.  I hope they arrest him and eveyone who buys the stuff. 

Jan 07, 2011 09:31 AM #24
Ambassador
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1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Selling mortgaged property is not a good idea where I come from...

Apr 09, 2011 03:19 PM #25
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