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So, if the owners have 30 days to move their stuff out of the house and they don't do it, then who has the rights to it? RA agent? Property Mgmt co? Bank? Anyone?
So, if the owners have 30 days to move their stuff out of the house and they don't do it, then who has the rights to it? RA agent? Property Mgmt co? Bank? Anyone?
According to this documentary the mortgage holder owns the stuff.
Interesting, but I didn't really get that it was the mtg holder's. I would think it is, but why wouldn't these workers take some of the stuff to sell or keep? If it is just going to the dump? What a waste. I mean even if they donated it...
Plocher explains that he is hired by the banks or Mtg Co.
He also says that his crews are trashing out 15 homes a day (up to 4 hours/house). There is no time to hook up with donation places.
Hmm, so technically, the workers can take the stuff. The reason I ask is that I know some people who do this for a living and I wasn't sure if it was legal that they take the stuff they might want. Interesting article, thanks for posting it.
Hmm, so technically, the workers can take the stuff. The reason I ask is that I know some people who do this for a living and I wasn't sure if it was legal that they take the stuff they might want. Interesting article, thanks for posting it.
Actually, it's up to the bank owner to decide what to do with the stuff. Workers can't just take what they want without some authorization, although in practice that may happen. The clean out crews are authorized by the bank to clean out whatever is left behind and dispose of it. How it is disposed is agreed on between the clean out company and the bank.
I see. Don't you think, at this point with the way things are, that many bank owners just don't care what happens to it? That they might not even bother getting involved with where the stuff goes as long as it goes?
These guys actually work for the property mgmt/RA company. Maybe the mgmt co. has the deal with the bank owner. I don't really know what the deal is between them, I just heard the guys talking about it as if the stuff was free for their taking. It seemed a little shady to me, but I guess it is so common now that the owners of the property see it so often, they don't want to deal with it?
In my business, we are often called by RA and banks to properties that have been vacated.
We have some that say "if you see anything you want, take it... it will save us having to pay to move/clean it"
When there is something especially valuable (say a car, big screen TV or gold bars (ha ha ha)) we call the client and tell them. If we are interested in it, we ask. Small stuff like DVDs or coffe tables, they don't care.
We are often the first on the scene of a repo/forclosure. We've walked in and found half starved animals, human feces, bug infestations, boxes of debris knee deep, rotting food, upturned refridgerators are all more common than anything left behind of value.
It may very well be int he cleaner's contract that if they find anything of value, they can despose of as they wish.... kind of like a bonus for scraping poop off the ceiling so that the prospective buyer won't have it plop on his/her head. People who are being evicted are not happy and some can be especially vulgar in their leaving. It is rare that anything of value is left... I'd say 1 in 70 houses have anything left woth more than 100.00 on the second hand market.
In most states if the house has been abandoned by the previous owner and they leave things behind it becomes the property of the lender.
Again, check the laws of the state where the house is.
As in most states some are allowed to pay the balance and would be allowed back in the home if they pay up in time.
What I have been reading is lenders are going into houses before the people have abandoned the house and removing personal belongings. That is against the law in most states.
I suspect the reason most of it isn't donated is they don't want the lawsuit when someones complains about their free item. One always spoils it for the rest.
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