Hello dear house building forum,
my wife and I are looking for a house with the following floor plan (see attachment) that we can visit.
We are considering placing a bid for this house in a foreclosure auction. However, the current owner no longer allows anyone to view the property, and of course, we would like to see this or at least a similar house in person beforehand.
Extensive online research has not yet been successful. It would be great if someone here could assist us.
Thank you very much!
Best regards
mopad126

my wife and I are looking for a house with the following floor plan (see attachment) that we can visit.
We are considering placing a bid for this house in a foreclosure auction. However, the current owner no longer allows anyone to view the property, and of course, we would like to see this or at least a similar house in person beforehand.
Extensive online research has not yet been successful. It would be great if someone here could assist us.
Thank you very much!
Best regards
mopad126
Well, that’s always the risk with foreclosure auctions.
BUT: I don’t think the resident has the right to refuse access. If the auction takes place, the bank will probably be able to decide who can enter the house. When would the resident have a say then?
Or is there no bank involved anymore? Possibly a bankruptcy trustee?
Otherwise, it’s just the risk of the auction... you often buy based on appearances.
BUT: I don’t think the resident has the right to refuse access. If the auction takes place, the bank will probably be able to decide who can enter the house. When would the resident have a say then?
Or is there no bank involved anymore? Possibly a bankruptcy trustee?
Otherwise, it’s just the risk of the auction... you often buy based on appearances.
N
nordanney3 Jun 2013 15:43Although I don’t know the floor plan, I can share some points about foreclosure sales (we also purchased a house through a foreclosure without ever visiting it – there were not even any interior photos):
- Viewing is only possible if the owner allows it (@Der Da: The occupant can not only deny access but can also do much more damage to the property)
- Looking at a similar house – I wouldn’t recommend it. Only the floor plan can be compared; the finishes can vary greatly
- Carefully read the description in the foreclosure appraisal report – not everything will look as good later as it is described (the creditor wants to recover their money from the foreclosure)
- Plan a buffer for renovations (our house was only three years old when we bought it at auction – due to children, dogs, and a very unique interior design, we replaced all floors, replastered walls, completely renovated both bathrooms, etc.)
- The owner can and is allowed to do whatever they want with the house up until the auction. In our case, this meant removal of all shower fittings, removal of the sauna, removal of the bathtub (whirlpool), partial removal of the laminate flooring, dismantling the satellite system, uprooting all trees and shrubs in the garden, and other little “pleasantries”
==> Problematic owners do not leave the property voluntarily, making an expensive forced eviction necessary. Sometimes water pipes get drilled with a small bit and then the wall is neatly replastered (I have seen this happen to some of my clients)...
Conclusion: Think carefully about what price you are willing to pay for “a pig in a poke.” You might get a bargain, although most good properties are auctioned off at high prices. But be prepared for additional costs (which may arise).
- Viewing is only possible if the owner allows it (@Der Da: The occupant can not only deny access but can also do much more damage to the property)
- Looking at a similar house – I wouldn’t recommend it. Only the floor plan can be compared; the finishes can vary greatly
- Carefully read the description in the foreclosure appraisal report – not everything will look as good later as it is described (the creditor wants to recover their money from the foreclosure)
- Plan a buffer for renovations (our house was only three years old when we bought it at auction – due to children, dogs, and a very unique interior design, we replaced all floors, replastered walls, completely renovated both bathrooms, etc.)
- The owner can and is allowed to do whatever they want with the house up until the auction. In our case, this meant removal of all shower fittings, removal of the sauna, removal of the bathtub (whirlpool), partial removal of the laminate flooring, dismantling the satellite system, uprooting all trees and shrubs in the garden, and other little “pleasantries”
==> Problematic owners do not leave the property voluntarily, making an expensive forced eviction necessary. Sometimes water pipes get drilled with a small bit and then the wall is neatly replastered (I have seen this happen to some of my clients)...
Conclusion: Think carefully about what price you are willing to pay for “a pig in a poke.” You might get a bargain, although most good properties are auctioned off at high prices. But be prepared for additional costs (which may arise).
I
Ingo Kommen11 Jun 2013 18:34ZV or no ZV.
I wouldn’t bid on the house based on the floor plan alone.
I wouldn’t bid on the house based on the floor plan alone.
N
nordanney11 Jun 2013 20:26Ingo Kommen schrieb:
ZV hin ZV her.
Just because of the floor plan alone, I wouldn’t bid on the house.It’s all a matter of price 🙂
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