Why do banks remove appliances from REOs

[Chad Huffer]

So, I've looked at many REOs and they have all had the Appliances removed; I always assumed that the previous owners took them to salvage what they could before the foreclose.

Recently there was a property in my neighborhood that was being foreclosed on and when the tenants moved out some contractors came in to clean it out; I noticed that not only did they clear out the furniture and other items left behind they also removed all the fairly new appliances from the property as well.

I don't understand why the bank would do this...

[Assaf Furman]

@Chad Huffer Bank clerks aren't being payed very well so they take the appliances for themselves ;)

On a more serious side, foreclosed properties are prone to be broken into, and when removing appliances the banks reduce the chance for B&E and vandalism, which sometimes may be caused by the previous occupants.