Bank Paying for Meth Cleanup?

I got a house owned by BONY and serviced by BAC. We just got word the previous tenants were smoking meth in the house. 

 

Anyone have luck with getting an investor paying to have a property cleaned up prior to closing?

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Permalink Reply by Deborah McKnight on July 1, 2011 at 3:14am
I would think if that were 'documented' and a health/safety issue the bank would have to.
Permalink Reply by Christina Conrad on July 1, 2011 at 3:33am
Good luck!  We have a house that hoarders lived in and the bank absolutely refused to clean it up....It is disgusting..we had two different realtors take prospective buyers in to view the home and they got fleas...they were ticked to say the least..neighbors had filed complaints with the city, etc, etc....The only thing the bank agreed to do was mow the 10ft high lawn....everything else they said was the listing agent or sellers responsibility...little bit different scenario...but with Meth...that is different...in Missouri some houses can be condemed unlivable if there is documented proof of meth...
Permalink Reply by Jeff Payne on July 1, 2011 at 4:32am
Does the bank own the property?  Or is this a short sale situation?
Permalink Reply by Jeff Payne on July 1, 2011 at 4:37am
If this home is owned by Bank of New York and being managed by BofA, BofA has a Health and Safety form that is required to be filled out by the REO agent and if there are health and safety issues they have to be taken care of ASAP
Permalink Reply by Christina Conrad on July 1, 2011 at 5:06am
LOL...No Harry..mine was not a meth house..it was a hoarder house...
Permalink Reply by Travis Davies on July 1, 2011 at 5:06am

This is a short sale with BofA. The investor is BONY. The funny part about this is the negotiator told me "Sir the home is sold As-Is, and we wont be paying to have it cleaned up"

 

Their closing manager, who i know well told me that they should clean it up prior to closing as long as its within reason. Not sure what amount that is. I'm sure if the levels come back higher than 10ppm they'll be scrambling to figure out a solution. Not like they can f/c and turn around and sell it as a BPO without disclosing it.

 

I gotta think the investor would pay whatever it takes NOW to clean it up vs being stuck with it any longer than they absolutely have to.

 

Permalink Reply by Jeff Payne on July 1, 2011 at 7:23am

I would not think that you will get the servicer or the investor to clean the property, if so it may be a tough one to get done. Use Health and Safety as your problem, I can send a blank H&S form from BofA to you, email me [email protected]

Remember that you are dealing with the servicer and the investor is a different company so the servicer really does not care if it forecloses or not, they get paid to service it.

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