Squatter Nightmare (Tacoma: for sale, foreclosure, mortgage)

[Johnathan Cannon]

So, I wanted to make people aware of what happened to me with a house I purchased for investment, so that you don't make the same mistake. The moral of the story is do your homework, and if it seems to good to be true it probably is.
I decided to buy my first investment property in my Hometown of Tacoma, WA. 1410 S. 56th Street. The process was easy enough and I got it for a song! I bought the house, only having viewed it from the outside, as a foreclosure from the bank, but given the low price I was sure I had make a good choice even if the inside was in bad shape. A few short weeks later we closed escrow, I went to the house I found an entire small community of squatters living in it. I told them get they hell out, and they called the cops on ME! Turns out you can just squat in any abandoned house and you all of the sudden have a ton of rights to stay there. It cost me thousands of dollars to get them evicted some time later. They took out their anger on the house, and cut into the supporting beams before they left. The ceiling was sagging and the plumbing had some type of glue in it. I got three estimates for repair, all of which were over $100K!!. The crazy thing is that the house is barely worth $100k even if it was in great shape. I quit paying the mortgage because I couldn't afford to have it fixed. The same bank that sold it to me was carrying the note, and they foreclosed in a short time because I wasn't living thier. On top of all of this they are trying to sue me for damages.
In the end I am out almost $50,000, I am being sued, and I have nothing to show for it. You have to love America. Knowing the underhanded bank they will try to resell the property, hell the squatters probably work for the bank now that I think about it. 1410 S 56th Street Tacoma, WA I will not miss you one bit.

[sirron]

And folks wonder why no one goes around fixing up blighted properties.


Sorry you had to learn such a tough lesson, OP.

[karen_in_nh_2012]

OP, I can't believe you bought a house without EVER having seen the inside.

Perhaps that was your (first) mistake?

[fluffydelusions]

Funny cause I just saw it on trulia lol
1410 South 56th Street, Tacoma, WA For Sale | Trulia.com

[Pansori]

What a horrible story! So sorry, OP, a harsh lesson learned. What are you doing to repair your credit?

[sirron]

Originally Posted by karen_in_nh_2012

OP, I can't believe you bought a house without EVER having seen the inside.

Perhaps that was your (first) mistake?

In my state, the buyer of a foreclosure isn't usually allowed access to the property until all paperwork is signed. One can only drive by and assess the situation.

[karen_in_nh_2012]

Originally Posted by sirron

In my state, the buyer of a foreclosure isn't usually allowed access to the property until all paperwork is signed. One can only drive by and assess the situation.

Seriously? I had no idea! (And I apologize to the OP for my misconception, if this is the case in his state too.)

I am flabbergasted that you would be expected to buy something without actually looking at it first (other than the outside walls)? I know that's done with storage units, but that's not quite comparable to buying a house.

Wow. Again, I'm flabbergasted.

[Scratch33]

Originally Posted by Johnathan Cannon

I bought the house, only having viewed it from the outside

Betcha won't do THAT again.

[Garethe]

Now I know why a friend back in Kansas City that flips houses always had to have an army of goons with him.


Sorry that happened OP.

[Podo944]

Originally Posted by Johnathan Cannon

A few short weeks later we closed escrow, I went to the house I found an entire small community of squatters living in it. I told them get they hell out, and they called the cops on ME! Turns out you can just squat in any abandoned house and you all of the sudden have a ton of rights to stay there. .

Wow, so sorry about your experience!
When the people squatting called the police, did a cop actually show up and stick up for the squatters??
Did you get an explanation as to WHY they would have rights to the property you bought?
Why couldn't you press charges when so much damage was done after closing escrow, or did they just disappear into the night never to be seen again? I know you wouldn't be able to get monetary justice from them, but they should be arrested... if not, they'll just do it to someone else and get away with it. They shouldn't get away with it!!
How awful for you!