Can the previous owner of a home be held liable for problems when bank accepts a "deed in lieu of foreclosure" and then sells the property?

Asked by Michael Travis, Wolfeboro, NH Wed Sep 2, 2009

"As Is"

Help the community by answering this question:

+ web reference
Web reference:


Scott Godzyk, Agent, Manchester, NH
Mon Sep 7, 2009
Unless the previous owner did something illegal such as manufactured drugs, stored hazordous waste or such, any defect (leaking roof, water in basement, broken windows etc.) will be the banks responsibility after the property is transferred by a deed in lieu of foreclosure.
Web Reference:
0 votes
James Gordon…, Agent, Hamilton, OH
Thu Sep 3, 2009
The lender agreed to take title to the property as is instead of pursuing forclose. The property is all theirs now baby. The lender may be able to before the sale takes place go after the seller/property owner that broke their legal contract for any damages that were intentional.
Proving it is another matter. Like holes in the wall--"Oh we just had an accident when we were moving!"
Web Reference:
0 votes
Search Advice
Ask our community a question
Foreclosure in Portsmouth Zip Codes

Email me when…

Learn more