Home Buying in Milwaukie>Question Details

Unhappybuyer, Home Buyer in Milwaukie, OR

what am I suppose to do if during the pending sale some of staff from this house has been taken?

Asked by Unhappybuyer, Milwaukie, OR Sat Oct 16, 2010

Bank Owned home. Accepted offer by the Seller. Escrow, preliminary title, appraisal past succesful, but in this time, day by day things are stolen from this house and nobody doesn't recognize anything. What am I allowed to do?

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Kevin Olson, Jessica Laude’s answer
Contact the listing agent to make them aware, and they in turn should contact the bank. This type of thing happens, and the bank needs to be aware. If the home has no signs of break-ins, and things are consistently going missing they need to look into it.

From this point on I would photograph everything in the home as a form of accounting to keep track until the property closes. If there was damage caused breaking into the home and/or things listed in the contract you might have to seek credit or concession from the bank.
1 vote Thank Flag Link Tue Oct 19, 2010
Dear Unhappybuyer,
Sorry to hear this. As an Oregon Realtor, when I write an offer on a Bank Owned property I include a copy of the multiple listing data sheet for agents and write into the offer for it to include items that are in the property that my buyer wants. These would include window coverings, appliances...things not nailed down basically. When you receive the banks addendum these things should be clearly written in the banks required addendums too. I actually just wrote an offer for some buyers and included the online pictures of the listing as it included a picture of the new stainless appliances to cover my bases. Your agent should be able to work something out with the listing agent if these items were in the property when you viewed it and were included in your offer and were not personal property. It it was due to theft as noted earlier you could ask for an adjustment to the price from the bank but don't hold your breath. Banks are very impersonal and the risk you face in purchasing a bank owned (often called REO's) is offset by the low price. I wish you well with this.
Robin Weisgerber
Keller Williams Realty-Portland Premiere
Wilsonville, OR 97070
1 vote Thank Flag Link Mon Oct 18, 2010
I agree with those who say it's going to be difficult at best to get any compensation from the lender, but it's certainly not impossible. It's like life - some of the lenders are really nice, and some are....
0 votes Thank Flag Link Tue Oct 19, 2010
What stuff was taken? Was it an appliance, AC unit? In any event, the property is to be purchased in the same or better condition than when your offer was accepted. Talk to your agent about preparing an amendment requesting for either a price reduction or replacement of the property that was stolen before you go to closing.

Best of luck to you!
Web Reference: http://www.DesariJabbar.com
0 votes Thank Flag Link Sun Oct 17, 2010
Talk with your agent right away! Any vandalism should be reported ASAP. (The listing agent and seller need to be told, as well.) But they're right...what's been stolen? And were those items asked for in your Purchase Agreement? If so, the seller/bank should credit you for those items. Good luck!
0 votes Thank Flag Link Sun Oct 17, 2010
If the stuff is included as part of the sale you should be able to seek compensation from the bank. Those items included should be listed. However how do you know they are being stolen?

Now if walls are being broken and pipes ripped out, that's one thing. Otherwise you need to make sure the stuff actually is/will/should belong to you. And insist on a lock being put on the door as a condition of closing.

Plus you should check to see if the neighborhood is what you consider to be unsafe this could be a sign to stay away.
0 votes Thank Flag Link Sun Oct 17, 2010
If there is a robbery - you should call the police and report it.

Good Luck!

If you like the answer - please consider making it a "Best Answer" !

Gerard Dunn
Associate Broker
Licensed in Maryland, Virginia and Washington, D.C.

Assisting Homebuyer's and Seller's for 28 years
703-216-9100
0 votes Thank Flag Link Sun Oct 17, 2010
What do you want to do? Talk with your agent. Read your contract. Does your contract say what is included? if so, you should be able to cancel or at least get the bank to credit you for those items. Are there pictures showing the items in the home? That would help. Why is the house not secured properly so things don't get stolen?
0 votes Thank Flag Link Sun Oct 17, 2010
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