Zillow Advice: Buying Foreclosures - Is it "ok" to contact the previous owner on a foreclosed property?

Stephen.....I see you are ...

Mon, 07 Sep 2009 19:12:00 GMT

Stephen.....I see you are new on here :)

You will get a better response from the boards (and potential clients) if you check the date on things before you respond. The original poster is probably long gone.

My friend. Proceed with caution. ...

Mon, 07 Sep 2009 19:07:00 GMT

My friend. Proceed with caution. Consider the facts at hand. This person who you want to contact has just lost his or her home. How willing would you be to talk with someone who wants to take what they once had? It sounds by your description that the bank has listed this property with an agency. If this is the case then I highly recommend getting a realtor to represent you and walk the property together. If you would like, you may contact me directly. I could then answer your questions in more detail. Take care.

your best bet, pay for the ...

Sun, 12 Apr 2009 02:17:00 GMT

your best bet, pay for the de-winterization, and hire a REALLY GOOD home inspector, that is the only way to REALLY know what's going on with the home. The previous homeowners may lie to you, they may not know what's happened to the home since they vacated, etc. Protect yourself regardless of how good it looks on the outside. What if the home was not winterized properly...when it's dewinterized you will surely find out!
I would never have a client buy a home without inspection, sometimes because of the great price you cannot negotiate repairs and you are buying as is, but you want to know what those hidden defects are!

I have really good inspectors down in stamford, i can research some up there if you want :)

Difficult situation. ...

Mon, 26 Jan 2009 06:39:00 GMT

Difficult situation. If I was advising the former owner, I would tell them to not tell you anything. Anything they say could create liablity for them, liability they don't have now. For example, suppose you ask them if they had any mold problems and they say "no". You buy the property and find out that it did have mold problems. Could a suit come about? Maybe. Why take the risk. They have lost the home and have no obligation to say anything.

I recognize that does not help you in trying to find out what defects the home may have but how does that really benefit the foreclosed homeowner?

My suggestions is for you ...

Thu, 22 Jan 2009 21:53:00 GMT

My suggestions is for you to contact your agent and let him/her contact the previous owner. Keep in mind that someone that lost a house in a foreclosure sale is probably not going to be a "happy camper" so you may or may not get the answer you need but using your agent as buffer might be a good idea.

Good luck

Leonardo

Sure why not? You can also ...

Thu, 22 Jan 2009 21:13:00 GMT

Sure why not? You can also see if there was a REALTOR involved in the transaction. They may be able to fill you in on the situation.

In fact, I got a call like this just this week. A property I sold two years ago was recently foreclosed on. It was similarly in great condition. I knew the family situation involved in the foreclosure, and while the owner did not want to speak to the new buyers, the actual questions were able to be answered by me and the builder. And we have a meeting with the original builder next week, and even with the original landscape designers. On a $800,000 As-Is purchase, this is giving the a lot of peace of mind.

Yes, you can. But expect ...

Thu, 22 Jan 2009 21:05:00 GMT

Yes, you can. But expect a lot of hostility. He and/or she may not want to talk to you. Remember - they just lost their home, and are probably angry at a lot people. So take Sunnyview's advice and tread gingerly.

You can, but if you do be ...

Thu, 22 Jan 2009 20:53:00 GMT

You can, but if you do be very sensitive. You are talking about someone who lost their home and may be raw. Try to be kind and understanding of their situation. That's your best bet because they owe you nothing and may not want to help the bank sell the home. You risk very little overall, but may get hung up on or yelled at depending on the person. Yo may also get someone who is very nice, but just got in a bad financial spot. Make sure if you do call to call from a payphone or block your number so they can't call you back using caller ID. You never know who you will get on the phone and it's better safe than sorry.