Re: To Anyone Who Still Thinks HOAs Are a Bad Idea

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Article #9161

#9161

From: Brent P
Date: Fri, 29 Feb 2008 15:36

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In article <fi5gs3l6i24jib464odm8bmf2ojehj9fr5@4ax.com>, Scott in SoCal wrote:
> On Fri, 29 Feb 2008 08:11:09 -0600, "Amy Blankenship"

>>> They aren't. However, the process of making the house attractive to
>>> buyers will undoubtedly involve removing all that unsightly graffiti.
>>>
>>> Problem solved.
>>
>>No, banks typically let it sit in whatever state the previous owners left it 
>>until it is sold.  They might pick up some of the trash they left, but 
>>that's about it. 
> 
> I confess I am not intimately familiar with the process, having never
> gone through it myself. :)
> 
> Assuming you are correct, and the bank sells the house as-is, who is
> going to buy it? What do you honestly think the chances are that the
> new owner will leave all that graffiti on the house?

If my experience from the association side of things is any guide to how 
the process normally works.... the property is sold at auction, it's a 
cash sale. The banks do not have 'open houses' so the buyer doesn't know 
100% what the property is like when buying it. This is why you have 
stories of people finding dead bodies in homes bought at a foreclosure 
sale. Like this one: 
http://www.chicagotribune.com/news/chi-sun_fraud_0224feb24,0,5031285.story
"This house was a steal, How fraud led to this property changing hands 3 
times as son of owner sat dead inside"

Basically the association will then have to go after the new owner.

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From: tetraethylleadREMOVETHIS@yahoo.com (Brent P)
Subject: Re: To Anyone Who Still Thinks HOAs Are a Bad Idea
References: <1kh9s3tl2g15ungnofmrs17q9cikek559g@4ax.com> <R8CdnewVy42SZlnanZ2dnUVZ_gKdnZ2d@comcast.com> <fq45ep$60o$1@reader2.panix.com> <VrSdnTzmS4U-AVjanZ2dnUVZ_qmlnZ2d@comcast.com> <7lecs31dcagl57p99b71dk1kummcfqvhe8@4ax.com> <t62dnSswu-_bIVvanZ2dnUVZ_q7inZ2d@comcast.com> <hdids3t3u8lpgg2414p2hr424lhq09iko8@4ax.com> <YpAxj.104382$N67.79239@bignews5.bellsouth.net> <pj6fs3tl9f1bqftrb1m25nb0fq4h34qrvl@4ax.com> <YoUxj.862$Fs5.779@bignews2.bellsouth.net> <fi5gs3l6i24jib464odm8bmf2ojehj9fr5@4ax.com>
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