FHA bids - REO Property Preservation Forum
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post #1 of 4 (permalink) Old 06-15-2012, 10:31 AM
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FHA bids

Has anyone else heard that they are now requiring personals and debris to be bid separately?
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post #2 of 4 (permalink) Old 06-15-2012, 11:37 AM
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Originally Posted by SWOH REO
Has anyone else heard that they are now requiring personals and debris to be bid separately?
We started doing this last summer. We refused to remove just debris and leave debris. Just gives them one more way to screw us and call debris/personals and vice versa.
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post #3 of 4 (permalink) Old 06-15-2012, 06:49 PM
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Been doing that for FHA for over 5 years. Those that have not been doing that have been risking the nasty "who stole my personals" from the prior homeowner and prior homeowners Lawyers.

Problem is: Everything is personal item unless garbage and food items. Remember the motto "one persons junk is another persons treasure" ??? I REALLY applies to homeowners who has their personals removed by the P&P Contractor.

HERE the lawyers are ADVERTISING on radio/TV to "Call if you have a house that went through foreclosure and items have been removed from the home"....

They aren't spending the big bucks advertising if they aren't getting $$$ in return.
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post #4 of 4 (permalink) Old 06-15-2012, 10:14 PM
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my motto has always been, if it was ever bought...it's a personal. Period. Fortunately, most banks set a dollar value where they set a cut off for considering materials either debris or personals. example - if personals are prsent with a value of $1000 or more, then remove nothing. Of course, then it's up to you to put a value on things.
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