Thursday, March 19, 2009

Some REO's are GROSS!

Be Prepared if You're Considering Buying a REO.

I am just outraged at the condition of some of the REO homes I've seen lately! I looked at a house with a client on Monday that literally made me sick. This house had trash and personal belongings covering every single inch of the 1700+ sq ft of space! There were maggots because the previous residents had dumped the entire contents of the (missing) refrigerator onto the floor. They left dog feces and probably human feces in several locations in the house. There were maggots and LOTS of flies in the house. There were boxes and boxes and boxes of "stuff" everywhere. There were shoes, clothes, food, trash EVERYWHERE. The entire house was covered! I couldn't tell you what the flooring was if my life depended on it. I held my breath and literally RAN through the house and out the back door! I caught a whif of the stench in the house and immediately got sick! My client has a stronger stomach than I do and managed to get through part of the house. Of course we had to use flashlights which just added to the nightmare feel of the place. I think you get the picture.

Now. My question is this. CAN'T WE DO SOMETHING ABOUT THIS? Either the listing agent OR the lender is going to HAVE to clean these REO homes (and some short sales)up. This is rediculous. I understand that they are losing a lot of money and I know that the listing agents aren't making a large commission, but puh-leeeze. This is just unacceptable. I'm not sure who I should complain to? I guess I'll start with the Listing Broker and see if I can get the name of the lender.

I know that some investors just look beyond the filth, but some of the people looking at these homes are NOT investors! They are first time buyers and "normal" buyers looking for a bargain. They absolutely will NOT consider making an offer on these homes!

These are toxic messes and quite frankly pose a health hazzard. It's only going to get worse as our days get warm and then hot! Gross!

What are your thoughts??

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