Friday, March 7, 2008

A tale of two homes

You are selling your home. The landscaping is immaculate. Your home is freshly painted inside and out. Your pool water is as blue as blue can be.

Your neighbor vacated their home. They have been foreclosed upon. The bank owns the property now. The weeds are knee high. Two windows are broken. The pool is green and smells. Four new phone books sit waterlogged on the front porch with about a thousand door hangers from every pizza parlor, landscaper and cable company in town. The only thing that's shiny is the agents for sale sign.

The banks price on the same home is $100,000 less than yours. What do you do?

You call the banks real estate agent and ask them to straighten up the place. The agent explains that the bank won't authorize any money in what they consider a sinking ship. The bank is already going to lose over 100 grand and they won't trim weeds or drain pools.

You go over to the home and pick up the debris, but you sure won't mow and weed. You make sure the gate is closed and the pool is secure. Your trespassing, but in the name of safety.

Your agent is planning an open house this weekend. You break down and go mow the lawn of your neighbor. Then you pull weeds. Again, you're trespassing and you shouldn't have to do this, but it's impacting the sale of your home.

You hear about a near drowning across town and it makes you think about the abandoned green pool next door. You hear about mesquito's breading in stagnant water and it makes you think about the pool next door. So you call the Arizona Department of Environmental services to report the green pool. Yes, they have a line for that purpose. The number is 602-506-6616. They take the address down and spray the water for mosquito's. But, they won't empty the pool.
Finally, you contact your HOA. The board decides to maintain the front yard next door and at three other addresses. They can then bill the bank or owner by placing a lien on the property. Will they get the money when it sells? Yes, if it's a lien. But, even if they don't your HOA should plan on loss of monthly dues and/or property upkeep on some foreclosed properties.

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