What would YOU do in this scenario?

Question

What's going on BP -

I recently won an auction on HUBZU for a bank owned single family property. The seller accepted my bid and we are currently under contract. However, after the property was put under contract the door lock was removed. Anyone off the street can simply walk up to the property, open the door, and enter. There's a hole in the door where the deadbolt was previously located. I know there was a door lock on the property prior to being under contract because I visited the property before placing my bid.

For the last week I've urged the "closing coordinator" from the title company to contact the seller and have them secure the property. I've been told the issue was being escalated and that a work order was to be completed Monday 10/28. Wishful thinking!

Although it is located in an A neighborhood, my concern is that the property will be vandalized.  I have been told in the event of any damage (before the new door lock is placed) I will receive a credit at closing. However, I am yet to receive this offer in writing.

What would YOU do in this scenario?

Michael Noto · Answer

@Mark Robert Do whatever you need to do to secure the property is what I would do. There are so many layers between the closing coordinators and the people in the field for HUBZU nothing will ever get done. It is easier to just give you the credit, but who cares about a credit if someone breaks in and causes even more damage.

Todd Kruger · Answer

@Mark Robert

I have purchased many homes thru Hubzu over the years. You have nothing to worry about by placing a new lock on and securing the property.

The seller could care less about the home and you will never be able to reach them no matter how hard you try or nicely you ask.

Secure your future investment without hesitation!

Lynnette E. · Answer

They did you a favor.  You can look at it before closing.  You will not need to break in after closing.  They never give me keys, I have to break in.  Put on a deadbolt and say nothing!

John Teachout · Answer

I'd go and put a lock on the door.

Mark Robert · Answer

Thanks again to everyone for your input. Just to close the loop - I closed on this property two weeks ago. After placing the lock to secure the property the title company sent someone who removed my lock and placed their own combination lock, LOL. Was not expecting that. It all worked out in the end though! Would buy from Hubzu again.

Mark Robert · Answer

@Todd Kruger thank you! Property has been secured. Appreciate all of the insight.

Mark Robert · Answer

I appreciate all the feedback everyone. Thank you for the advice.

John Teachout · Answer

Well, it seems no one else cares about it. Maybe put a lockbox on it too with a combo lock so you could provide that number if anyone legitimately needs to get into it. Then I'd advise the seller/agent what you did. It's silly that they left it open.

Mark Robert · Answer

Of course that was my first thought. I'd be curious to know if there is any recourse against me for modifying a property that I do not currently own. My only concern with doing the obvious.

What would YOU do in this scenario?

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