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Archive Monthly Archives: September 2011

When Wellington Short Sales Go Wrong- Foreclosure Trashing

When Wellington Short Sales Go Wrong- Foreclosure Trashing

When Wellington short sales go wrong by either the short sale seller will not work on a resolution to their lender’s requests or demands or when the agents don’t know how to negotiate a short sale or the seller hires an attorney who either does not care about the outcome or is not experienced in successfully negotiating in Wellington Short Sales.…. the short sale can turn into a Wellington Foreclosure.

It is being reported by the Sheriff’s departments around Florida and the banks that some homeowners are taking out their frustrations with a vengeance on the properties they get foreclosed on. Some tactics include ripping out all of the copper wiring, taking out the air conditioner units and removing all the appliances including the granite counter tops.

But even worse are the incidents where the homeowners are pouring wet cement down the bathtub and toilet drains. This does not just cause harm to the house and the plumbing it also can create problems in the city sewers and water treatment plants. The Sheriff reported that some of the homes were left with Graffiti all over the walls of the homes. Now we are very happy to report this is very rare in Wellington Florida. Most of the reporting from Sheriff’s has been from the Tampa Foreclosure areas.

Sometimes the repairs needed are so extensive that the banks are just putting the houses on the market without the repairs being made. Fortunately here in Wellington Florida this is very rare. Then the banks are selling the houses for below market value which they really don’t want to do because it further depreciates the real estate values in that particular neighborhood.

The buyers are also concerned and many of these contract for purchase are falling apart as the buyer starts to wonder what else the homeowner has done to the property that no one can see or detect. Pretty scary!

But some banks are talking about doing something about this. Some banks that are doing cash for keys are actually allowing for some very generous cash settlements if the homeowner promises to take care of the property and not take the appliances, etc with them when they move out. This is a proactive solution to this problem.

Some other banks though especially in situations where the homeowner has abandoned the property have the right and are talking about exercising that right to sue the homeowner for the damages. In most loan notes there are clauses that spell out what the responsibility of each party are. In the case of the homeowner- there is a clause that states you have to keep your home in good condition, take care of it, make repairs and protect the investment.

The Sheriff says that homeowners can be arrested and charged for destruction of property, vandalism and other violations. Banks say that whatever came with the house when you bought it, must stay and in good condition. They are talking about suing the homeowners for destroying the property.

Don’t go this far. You have options to foreclosure. If you live in your home and the home is your primary residence you may qualify for the HAFA program which will help you with $3000 relocation money. You may also be qualified for up to $20,000 in incentives to move out of your property when you are doing a Wellington Short Sale.

Call us- Nestor and Katerina Gasset at 561-753-0135 for a private confidential short sale evaluation over the phone about your Wellington Short Sale.