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Foreclosures and Vacant Homes

Discussion in 'Broadlands Community Issues' started by aoakley, Dec 3, 2008.

  1. aoakley

    aoakley New Member

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    Hi folks,
    The house next door is under foreclosure and we have a few other vacant houses around us.

    Question is - can we do anything regarding the general lack of upkeep of appearance? We don't have to worry about grass/landscaping in the winter and I try to be vigilant about picking up fliers and such. But if something is totally out of control, who do I call about it?

    My other concern is with these houses sitting empty with no utilities, what happens if a pipe bursts or something and it affects my home?

    Not sure if this is an HOA or county directed question. I didn't find anything on either site so I thought I post to get your opinions.

    thanks!
     
  2. msflynn

    msflynn New Member

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    It is not and HOA issue unless it is outside upkeep and then the HOA would be sending a letter to the owner on record. If something happens and it affects your home you should be able to go to the county records and see which bank owns the property and contact them.
    The house that we just bought was in foreclosure and had sat vacant for 10 months. From my experience the bank normally turns off all utilities and winterizes the home so they do not have to deal with anything that could happen.

    Normally, foreclosures are priced very reasonably and sell quickly as long as all the paperwork is in order. There were problems with the deed which is why ours took so long to sell

    Staci
     
  3. sharse

    sharse TeamDonzi rocks!!

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    Yep... there was a foreclosure on my street a while back (which has since been purchased and is now lived in) and that's what happened. They even put signs on the windows and doors telling anyone who entered that everything was shut off for the winter. As for flyers and things, I don't recall a bunch of issues with that.
     
  4. KTdid

    KTdid Well-Known Member

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    Thank you for your vigilence in keeping up with the fliers.:) Wish more Broadlanders cared about appearance!
     
  5. aoakley

    aoakley New Member

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    Thanks for the info all!
     
  6. a4guy

    a4guy New Member

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    the issue is the house isn't in foreclosure. It is in short-sale meaning it is not bank owned yet and still being shown by an agent.

    During this period the utilities are STILL on but things like the heat re WAY down.

    Also - don't believe that foreclosures sell quick. That is naive. A family friend is an agent and keeps me up to speed on what foreclosures sell, you'd be surprised how many fall through after 'being sold'.
     
  7. flynnibus

    flynnibus Well-Known Member Forum Staff

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    short sale means the owners still own it and are trying to sell it for less then they owe. That process may actually take longer then if the house were actually bank owned.

    The sale wouldn't fall through after 'being sold'... just being under contract doesn't mean the deal is done, it just normally is no longer being shown and deals do fall through. But it isn't sold at that point either.
     
  8. Brassy

    Brassy Hiyah

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    my cousin is short selling his house in Falls Church due to a nasty divorce. the bank is working with him while doing so to make sure he cannot afford to keep the house, and to approve the amount it sells for as well as to make sure the potential buyer is solvent. He had a buyer and the bank took so long (4 months)to work on it the buyers dropped out! So it is back on the market.
     
  9. Steve Campot

    Steve Campot Broadlands Real Estate Broker

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    I am currently working on a short sale, for a client on a two million dollar home and the process has been going on for five months... The bank claims it is over run with requests. It always takes a long time but if you are patient it can be a good option for both the buyer and the seller. I bought my home in Broadlands that way. If any one needs help with one or any other real estate matter just give me a shout.
     
  10. RobVT3

    RobVT3 New Member

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    How do you know the house aoakley is talking about is going through a short sale and not foreclosure?
     
  11. aoakley

    aoakley New Member

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    A4Guy and I are married.

    We checked with a local realtor to see what the status of the house is. They up and left in a hurry which concerned us. It's also had a lock box which has been taken off and on numerous times.
     
  12. RobVT3

    RobVT3 New Member

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    Ahhh....gotcha!
     

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