You are here : Home \\ Buying Advice || Foreclosure in Minnesota || Minneapolis \\ The Wonderful World of Foreclosures

The Wonderful World of Foreclosures

by Jennifer Kirby on August 20, 2008
Written by:

One of the luxuries agents have when showing vacant homes is that you never quite know what you are going to find when you open the front door. I have a few clients that are looking at investing in some foreclosed homes around the Lake Nokomis area, so needless to say, I have shown quite a few these last few weeks.

Foreclosures are vacant homes that the bank really doesn’t care about. All they want to do is sell them. Many of the agents I have run across that specialize in foreclosures don’t ever check up on the homes they list. Sometimes they take a photo of the home from their car window. If you are lucky, you might get a photo of the back of the home too. But that is about all they do.

Take for instance, the little birdie in the photo. He has been dead a while on the second floor of a foreclosure I looked at a few weeks back. He took the pleasure of dieing right in front of the only bathroom in the house, so my clients were a little put off by his presence. It didn’t help matters to then go into the next bedroom to only have another dead bird laying near the attic door. Strike two….my clients, though at one time interested in the house, decided against it. I took the liberty of calling the agent and leaving them a message about the dead birds. Who knows if they ever cleaned up the mess.

But my point it, you never know what you are going to find inside a foreclosed home, so it is best to keep an open mind. Some homes have mold problems, some have updating issues, some need to be torn down, while others have been torn apart by the previous tenants. I heard about one owner in Prior Lake who has been foreclosed on and is still living in the home. He is “getting back” at the bank by stripping the property of everything he can, and then selling it on Craigslist. Supposedly someone bought his retaining wall, and dismantled it stone by stone. He also sold his deck. I heard his shingles are also for sale for anyone that wants to come take them off his roof.

Foreclosure makes people do funny things, and lets buyers see anything you can imagine.

Leave a Comment

Previous post:

Next post: