Possible Homeowner Mistreatment of Bank Owned (REO) Properties in the Tri-Valley
February 23, 2009
Wow, what is going on in this current real estate market? I am truly disturbed with what I encountered on a recent trip out with some of my prospective buyers. For the sake of keeping the location of this property fairly anonymous, let’s just say that my clients and I were visiting homes in the Tri-Valley area. My clients had found a couple of homes on the internet that they wanted to view. These homes appeared to be too good to be true due to their enormous size and relatively low price. I was somewhat skeptical before entering. Unfortunately, I did not have time to preview this home prior to us viewing. And, let me tell you I only wish that I had.
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3 Responses to “Possible Homeowner Mistreatment of Bank Owned (REO) Properties in the Tri-Valley”
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TriValleyVine Resident Author
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ADAM GOLDEN REALTOR™ 925.899.6103 |
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Were you the first group to encounter the conditions of this home? Must have been an awful shock . Has this happened to other homes in the same area? I hope the perpetrators are found.
Adam,
That’s nuts! Good job documenting that on videos. I have seen former owners take appliances and other items of value, but never anything like that.
Do REO’s with conditions like these happen frequently?
-Brendan Aiello
You should have documented the much bigger holes on the walls upstair. Also, you should have mentioned that the A/C units were taken away as well, and banks won’t finance it because it’s not habitable without the HVAC units (buyer has to pay cash).
If the price is low enough, all these repairs don’t seem that bad. They just offer buyers more amos to low ball.