With the increase of Bank Owned Properties on the market right now, I send a plea to Mr. Banker...
Please, for the LOVE OF GOD, shovel your walkways and driveways.
And it wouldn't hurt 'ya any to buck up for some, let's say heat and electricity.
I set up showings for two bank owned properties that have been on the market for 90 and 185 days. The first property had no heat, and while my clients and I walked through with our breath puffing in the air, let's just say this: my clients weren't inclined to linger. We walked back to the gorgeous in-law suite only to find that the electric to that part of the house had been turned off. We think there was a jacuzzi in the completely dark bath. We're not sure.
As we entered the driveway to the second home, my truck slid sideways on the iceslick of a driveway midway up the hill to get to the home. My clients had made it to the top of the hill, but couldn't come down because I had closed off the driveway. I abandoned my truck and soldiered on up the hill, only to have my client wipe out getting out of his car and yelling down to me to forget it. There was no electricilty on - at all - at this house, so we couldn't see anything anyway.
It took me around 10 minutes to get my truck out of the driveway without sliding into a busy road, and I only did so by driving in a ditch and having pine trees rake the side of my car. I then had to park on the shoulder of the road with my hazards on and tell my clients when the road was clear, since they anticipated sliding down the drive into the road without being able to stop the car.
Since we haven't had any snow or ice since last week, I guess it's been that long since anyone, including the agent, had checked on the condition of the property.
Look, I get it. You're trying to minimize your loss. However, you're still allowing the house to be shown. In theory, you're still trying to attract a Buyer. All the basic tenets of showing a property still apply - even to bank owned properties. Lights are necessary. Access to the home is necessary. If you want people to actually take the time to look at the home, HEAT is necessary in the middle of winter.
Give me something to work with, and maybe I can actually sell your home. Whatever your pay for the minimal expense of basic courtesies for the Buyer will surely be outweighed by a shorter marketing period.
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What a great post Heather! I totally agree with you. I have had the same problem. It is very frustrating.
Thanks Candice. Truth be told, I was very upset about the whole "truck sliding sidewides and having to drive in the trees" thing. All I could think about was getting t-boned when I slid into traffic and getting killed over showing - or in this case NOT showing - some stupid house. Totally not worth my kids' growing up mother-less.
Weird what goes through your mind...
Another reason to love selling real estate in the winter! The ice just really pulls it all together.
AMEN!!!!! I've never really done much bank-owned stuff before, but now that it's the dead of winter, that's all I'm doing! BRRRRRRRRRRRRRRRRRRR. It's miserable for all involved. I wonder if there's a part-time Fluffing & Flushing career in there for someone to run around and take care of a bank's vacant properties?
You know, Jennifer, I was thinking the same thing - sort of a property manager type of thing. Check on the property once a week, schedule oil deliveries as needed, coordinate plowing, etc. It's one thing if they're selling within the week (most of the lower end ones are - to contractors), but these were houses in the $400K range and had been on the market for a good amount of time.
here's another question - is it up to the REO listing agent to make sure the property is a) safe for the general public and b) well lit?
Ugh, that's terrible! And I think your right about the REO listing agent being responsible for the property to be safely shown.