Whats it mean when an empty bank owned house has a crew there prettying the place up for a week?

[NNN0LHI]

There is one empty house that was foreclosed in my subdivision of about 50 houses. We had two but the other one got snatched up right away. Within a month or two of going empty someone bought that one.

The owner of the one that is being spruced up right now had it on the market last year and received a firm offer on the house for a little more than he paid for it a couple of years earlier and turned it down because it wasn't enough to cover all of the realtor fee. He would have been on the hook for part of that. So he let it go. It was more than that. He was also going through a divorce and its a long messy story I won't go into here.

But the bank has had a two man crew out here for over a week fixing and cleaning up the place up inside and out. I looked at it yesterday and it looked real nice to me now.

Does this usually mean the bank is planning on moving the property when they do this?

Don

[sharesunited]

1. Does sound like they plan to start showing it if they haven't already done so.

Look for a realtor's sign to be posted out front.

[Tansy_Gold]

3. Or maybe one of the bank execs has relatives visiting

and needs a place for them to stay? :shrug:

The same is happening to a couple of foreclosed properties in my neighborhood and we're all speculating (pun intended) on the reason. NOTHING is selling here.



TG

[proudohioan]

2. Probably so......

the house across the street from me had been vacant/bank owned for about a year. About 6 weeks ago, I noticed activity over there; crews coming in and cleaning out the place, etc.... I looked on the county property records website, and sure enough, the house was sold to an investment company for $42,000. The investment company spent about 4 weeks cleaning out the place, added a couple of coats of paint, new carpet for the family room and stove/fridge for the kitchen. They just listed the place for $109,900.....

[HopeHoops]

4. Auction time - wait for the big sign.