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Get Paid to NOT Trash your home upon Foreclosure Vacancy

By
Real Estate Agent with Future Home Realty

I could not believe this latest information on the Foreclosure front. Just when you thought things were as unreal as they could be with the entire mortgage market meltdown, the amount of home owners that have walked away from their homes due to falling values and now add to this Trashing your Home for money ?

You heard me correct, check out this video segment. It appears that many homeowners angry with their banks refusal to work with them have been taking out their frustrations on the bank and the lenders by totally trashing their homes as they-vacate them. It has been so bad that many banks are now paying top dollar to the former owners to leave the property with a guarantee not to tamper with the home.

 

I believe that this footage is from the West Coast.

Has any one in the Tampa Real Estate Market observed this ?

What about Florida as a whole ?

Please comment if you have heard about this, or know anyone that has ?

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Comments (6)

Linda Lipscomb
Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN
731-695-1118, Lexington TN Homes

Hey, some of them I've seen, paying them to leave them half decent is a cost savings.  I have seen companies pay $10,000 just to shovel out the trash.

Usually cash for keys says the property must be broom clean.

Not had one where they have actually paid them not to trash their home.

Will let you know.

Regards,

Linda

Apr 09, 2008 02:03 PM
Tina Merritt
Nest Realty - Blacksburg, VA
Virginia Real Estate

Yep - they're doing it all over!  Cash for keys and the soon-to-be-non-homeowners know how to milk the system.  If this keeps up, I'm afraid we will see banks just doing surprise evictions.

Tina in Virginia

Apr 09, 2008 02:04 PM
Barbara Carter
Century 21 Alliance Realty Group - Highland, NY
Serving Your Real Estate Needs in the Hudson Valle

We actually had a property that the walls had holes in them where the copper pipes were removed! I think it is sad that the owners have to be bribed to leave a property without trashing it.

Apr 09, 2008 02:13 PM
Trent Cluley
Jasper, GA
I work with foreclosure properties (on the buyers side) here in Georgia, and almost without exception, they have some degree of damage.  Most often, all the ClosetMaid shelving is gone, and usually some light fixtures / door hardware.  Makes no sense, but it happens.  And yes, I have had direct experience with someone who was paid to "clean out and go".  Crazy world.
Apr 09, 2008 02:32 PM
Laura Karambelas
Baird & Warner Downers Grove - Downers Grove, IL
Realtor - Downers Grove
I haven't heard of this here.  I have shown foreclosures in the past and many of them were in terrible condition with wiring ripped out, plumping lines cut, etc..  With the widespread foreclosures, the banks are probably trying to minimize their losses figuring that if they pay the homeowners it will cost them less in the long run.  Just my .02.
Apr 09, 2008 09:52 PM
DDR Realty
DDR Realty - Newburgh, NY
Orange County NY
Interesting. I guess it makes sense for the banks to pay less to have the property vacated than to pay more for renovating and repairing the property.
Apr 09, 2008 11:16 PM