Daily Real Estate News  |  March 28, 2008  |   Foreclosed Owners Paid to Leave
About half of foreclosed properties are trashed by homeowners on their way out, according to a recent survey of real estate professionals by Campbell Communications, a marketing and research firm.

Banks rarely pursue charges against destructive home owners; it's not worth the cost and trouble. Instead, many are trying to prevent home rage by giving the real estate professionals who take on the sales listing authorization to offer somewhere between $300 and $1,000 to occupants to get them to leave the property intact and broom clean.

A bribe? "Yeah, somewhat," says John Carver, an agent specializing in foreclosed homes for Prudential Americana Group in Las Vegas. But "you lose a house, and then you get some financial help – it's a good thing ... It's a win-win for both parties."

Source: The Wall Street Journal, Michael M. Phillips (03/28/08)