Foreclosure Vandalism
July 31st, 2008 categories: Buyers, Investors, Sellers
You’ve seen or heard stories of angry homeowners who, when dealing with foreclosure, trash their house before leaving. Some spray paint the walls or siding. Others break every window with a baseball bat. Sometimes homeowners turn on all the water faucets and plug up the drains before departing.
These homeowners, angry at the bank for foreclosing, think it’s somehow permissible to turn the home into a total nightmare. They don’t stop to think about the consequences for the next set of first-time home buyers who have pinched, saved and worked hard to qualify to buy a bank-owned home priced at the bottom of the market, in “as-is” condition.
Desperate homeowners also strip assets from their house. These fixtures are not personal property, which mean they should stay with the house. The following items should not be removed from a home that is in foreclosure:
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Cabinets and counter tops
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Appliances such as stoves, built-in microwaves, dishwashers, etc.
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Furnaces and air conditioning units
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Plumbing and copper pipes
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Romex or other electrical wiring
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Light fixtures and ceiling fans
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Doors and hardware
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Flooring, ceilings and walls
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Windows and vents
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Medicine cabinets, sinks, tubs, toilets and showers
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Sink drains and faucets
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Built-in shelving / bookcases
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Landscaping, fencing, built-in pools and spas
People who vandalize a home they are losing through foreclosure are not harming the bank by their illegal actions. They are harming innocent home buyers who, just like they once were, are hoping to achieve the dream of home ownership.
True, but I don’t think that those who are losing their homes really care who gets hurt.