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Last night my SO and I were sitting across the street with some neighbors having a drink and shooting the breeze. The house at the end of the street is in foreclosure, and has been on the market for about 6 months. As we were sitting there, the people who used to live there showed up with a pick-up truck that had an old refrigerator in the back, pulled out the newish refrigerator that was in the house, and replaced it with the old one. According to my neighbors, this is typical of what has been going on since the house was vacated. The prior owners have been systematically stripping the house of anything of value. Is this legal? It just sounds kind of sleazy to me.
Last night my SO and I were sitting across the street with some neighbors having a drink and shooting the breeze. The house at the end of the street is in foreclosure, and has been on the market for about 6 months. As we were sitting there, the people who used to live there showed up with a pick-up truck that had an old refrigerator in the back, pulled out the newish refrigerator that was in the house, and replaced it with the old one. According to my neighbors, this is typical of what has been going on since the house was vacated. The prior owners have been systematically stripping the house of anything of value. Is this legal? It just sounds kind of sleazy to me.
The refrigerator is personal property, and not subject to foreclosure.
True in NC, at least.
If they start to strip stuff like the outside AC condensing unit, or copper wiring, that would not be acceptable.
The refrigerator is personal property, and not subject to foreclosure.
True in NC, at least.
If they start to strip stuff like the outside AC condensing unit, or copper wiring, that would not be acceptable.
I can see that. I just wonder about prospective buyers. According to the web-site for the realtor, there is a sale pending. I wonder about the buyers discovering that what they thought they were buying has now had some changes. Or is that the risk with a house in foreclosure?
I knew of a house actually in contract. The forclosed owners completely stripped out the kitchen. No one got in trouble and the prospective buyers walked.
That's a risk in any sale. Unfortunate but true. That's why when you have a home inspection many inspectors write the actual serial number of the appliances and such in the report.
I can see that. I just wonder about prospective buyers. According to the web-site for the realtor, there is a sale pending. I wonder about the buyers discovering that what they thought they were buying has now had some changes. Or is that the risk with a house in foreclosure?
What does "...in foreclosure" mean?
Does the bank own the home?
The sales contract defines what is conveying, and if the sellers still own the property and have legitimate access, and are taking items that are not listed in the contract, they should be fine.
If the bank has foreclosed and owns the home, typically the locks are changed, and former owners would not have legitimate access.
What does "...in foreclosure" mean?
Does the bank own the home?
The sales contract defines what is conveying, and if the sellers still own the property and have legitimate access, and are taking items that are not listed in the contract, they should be fine.
If the bank has foreclosed and owns the home, typically the locks are changed, and former owners would not have legitimate access.
That I don't know, but that may help explain things. According to publicly available court records, there is an open civil case involving foreclosure proceedings against the people who are listed as the owners of the house. I guess I assumed that if the original mortgage included certain items of personal property that conveyed when the house was purchased by these people, then they would also be considered bank property once the bank foreclosed.
That I don't know, but that may help explain things. According to publicly available court records, there is an open civil case involving foreclosure proceedings against the people who are listed as the owners of the house. I guess I assumed that if the original mortgage included certain items of personal property that conveyed when the house was purchased by these people, then they would also be considered bank property once the bank foreclosed.
No if that is the case then when you remodel a home those old kitchen cabinets belong to the bank and not the new ones.
They sound like the legal owners, so they can do whatever they agreed to in the real estate contract.
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