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I've seen trashed homes in forclosures. And gutted ones also.
Beautiful modern home with clear glass countertop in half bath toilet paper holder ect, shattered, speakers torn out of ceilings, appliances ripped out of walls, glass front door shattered. One house they took the kitchen island!!! That was the weirdest. We bought one where they took the built in Entertaiment Center. Covered entire wall. No carpet, base board, chair rail, no paint. Was a pain to fix. Took speakers out of walls, left covers to try to hide. Came back and stapled extra carpet to hide hole where ET was. Oh! They took the drawer out of the Master Bath. It was GONE! That was a pain too!
I've seen some foreclosures that were kind of messed up, and one my RE agent warned me off of because the selling agent said the sellers were going to take all the appliances, lighting and plumbing fixtures, everything that wasn't nailed/screwed down and most of the stuff that was.
I'm very reluctant to get involved in foreclosures at all unless the previous owner is moved out. I'm even reluctant then, since mostly all of these properties are "AS IS" and no disclosures, and IMO not that good a deal compared to standard sales. Maybe some of you are seeing good foreclosure deals, not me. I've pretty much found they're priced competitive to standard sales, but no discount for the "AS IS." (L.A. / Ventura counties, California)
I'd rather deal with a standard sale than deal with banks who got us into this mess in the first place. They screwed us once getting us into this mess, screwed those who mortgaged over their heads, and now they're screwing us again in tagging the new buyers with a mess, sometimes a mess that is stripped of plumbing and electrical fixtures, or worse.
Thanks, banks. Maybe you're too big to fail but we consumers have long memories. It will have to be a pretty fantastic foreclosure deal before I'll consider taking them up on it..
Oh, I've been in quite some homes! It's amazing (and very sad) that people behave the way they do. I realize that not all the times are the owners to blame for their financial situations, but does that mean they've got to destroy what's left?
It's also interesting the number of short sales (where the bank is FORGIVING them of their balance) and they insist on leaving the house a mess (at the very least).
Yep, it should be criminal - and in some cases, it is, and is actually pursued.
I've seen a lot of theft, but also a lot of vandalism that had nothing to do with theft. One house has MANY larger mirrors - each and every one was cracked. Crayon or pen writing on every wall to make sure the buyer has to repaint the whole house. Hammer holes in the dry wall of every room, holes punched in interior doors, the list goes on and on.
put them in jail and see if they still do not have anything more to lose.
sig heil, send them to the golugs. We will soon see who chooses to participate in the economy when consequences for defaulting on debt become equavalent to violent crime. Some other middle east countries do that and im sure there are not too many people taking on loans, maybe thats the way it should be but the only way for it to work is if you draw a line in the sand and there is amnisty for thoes stuck in the existing system and start a new, if you allow banks to punish people under new laws from the legal climate that they took the loans out in your going to see civil unrest and over crowded prisons. The USA is already the most incarcerated nation on this plant, hmm.
Sadly I know someone that did this. They remodeled the kitchen 2 yrs prior, knew they were going to lose the house sometime later, bought another house that needed work and stripped the first house so they could use the stuff in the second. They completely removed the kitchen and many of the light fixtures in the home. I thought it was pretty ghetto behavior. Some banks are going after homeowners that do this, the problem is it can be hard to prove at times. Sometimes the people that banks hire to winterize the property will steal stuff and blame it on the homeowners. I have been in repo's where people took the furnace and plumbing or others simply vandalized the house before leaving. In the grand scheme of things, I don't think it hurts the banks as much as the neighbors. A dismantled house is going to sit vacant longer and when it does sell it will be for a much lower price because FHA won't allow a loan if the house is missing vital features. There are those fixer up loans but they are a hassle to deal with so basically in this tough market, that type of home needs a buyer that is more of an investor.
I caught a lot of that low rent behavior on the final walkthrough on the short sale we bought. They had a moving sale and somehow I got CC'd on the email, and during the moving sale they sold a bunch of fixtures and a playground that was included as part of the listing. Closing was the last day they were authorized to sell per one of the banks, and I let their agent know in no uncertain terms that either his client (his daughter) was going to return what was missing or pay for them. I knew they had the cash available due to the moving sale, and that it'd be just as easy for WF to know they came into additional cash too if they were forwarded the email. I had a check in hand within the hour.
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