Destruction of foreclosed homes, NO repairs will be made!

the problem is the banks want full price and yet the home is in bad condition with no option for repair. This is why I tell many clients even Spokane Investors we can find better in an owner occupied property.

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Christine, it is a delema, I always wonder where the people that leave a foreclosed home think that they can put sinks, kitchen cabinets, all appliances.  I mean they normally won't be moving into another home.  Just kidding, I think that banks have to realize that they too need to compete with what is on the marketplace, even if it means taking a loss. 

I think the owners were upset that they were losing the house.  Doesn't matter what they can make on a sink. 

The banks are starting to get realistic in my area, (Wisconsin) reducing prices on dog foreclosures.... you'd think they'd have to come around soon with all the properties they are holding....

Might I suggest that the previous owner did not remove the sinks? I used to work with some banks & the companies that they used to "secure" the property for them did all the damage. They stole light fixtures, appliances, toilet tank covers.  For what reason?? Got me.  Used to report them to the banks that they did more damage than they were worth.

 

I've seen a lot of those properties.  Some people even cut the main electric wiring.  I often thought of why people do this and my reasoning is that maybe they are just so mad that the bank foreclosed, they are losing their home and that is only way they feel they can get back at the bank.  The people that usually buy those are investors and/or cash buyers.

I agree that trying to sell one of these property's to a first time buyer is tough. I just showed one to a couple that had no carpeting or flooring at all. To fully carpet a home is expensive. If it where not for that I think they would have bought the home... The Bank wants full price and no repair money. Good Luck.

Some owners are just being spiteful, and the tax forgiveness legislation has opened the door for them. In other cases, we've seen homeless individuals seek shelter in empty houses, and they'll help themselves to what they can.

The worst cases I've heard of in this area are the homes where owners leave their pets behind.

Has anyone experienced homes mysteriously burning before the sheriff's sale?