I am a realtor in va and was assigned a foreclosure home to sell. The property was still full of furnishings. I notified the bank and was told to have it trashed out. I hired a co. to perform this task for which the bank has paid this co. Now the owner has suddenly appeared and says that he wants his personal property back. We did return a pull trailer back to him at the banks request. The bank is now holding all offers on the property until this is cleared up. What do I do? Can this owner come after me?

So is this after the N.O.D. and before the actual foreclosure OR is this already bank owned property?

I can tell you as a Realtor in another state, that if the actual foreclosure did not happen yet, the home is still in the owner's name and he has a right to his furniture. In this case, the bank did not have a right to any personal property until they legally took back the deed. Yes, the owner can go after you and the bank, but considering how the banks are handling sales these days, good luck getting any help from them. It's really too bad they told you this.

If it is already bank owned, then all you need if it were to go to court is to show the date that the deed went back to the bank and compare it with when the co. took the furniture.

Now, I am not in VA, but know that these rules apply in other states. Do you have a trusted Broker to go to and a Real Estate Attorney?

As a realtor you should know the laws in your area... also at the county office all info is public record... tough lesson to learn but much fraud is taking place with these foreclosures.. the name of the owner on the title is his till it is auctioned off and the title cleared; then he becomes a tenant and Obama has passed last year protective tenant laws... plus the bank has to take rent payments which they are denying tenants.. fraudulent eviction notices not filed with courts are being posted on properties... all for lack of knowledge... then there is the eviction process and there are many ways to fight this at the hearing... not to mention the biggest fraud going on is the titles to these auctions are ending up in Deutsch Bank... wikipedia this and it will tell you who they are; certainly not the original note holder... God is not happy with all of this...

If the previous HO was evicted and a notice posted on the door, the notice should have a termination date for redemption of any personal property. If the HO waited until after the redemption period was over, they don't have much of a leg to stand on. But if the property was trashed out prior to redemption, they can sue the responsible party.

If you have an e-mail from the bank telling you to have the property trashed out, they are the responsible party.

Obviously, there are exceptions to every rule but that is the way PP is handled in California where there is a 14 to 18 day redemption period from the date of eviction.

If there was no eviction, you'll have to check the laws in your state.

I certainly wish you the very best. Nothing in this industry is as straight-forward as it appears. I've been doing property preservation for over 3 years and have found myself in some pretty unusual situations. Just keep your activities within the confines of the guidelines and you should be okay. Always CYA by corresponding with your client [bank or lender] by e-mail asking them for direction. Otherwise, you may find yourself in a he said, she said situation if you only make a phone call.

Linda

http://allreopreservation.com