Personal Property and Foreclosure

Personal Property at a Foreclosure in Minneapolis

Most of us never have to see a house that was once a home with personal property strewn all over the place. As a real estate agent who specializes in foreclosures I see it far too often.  It is an unfortunate time when homeowners have to grab their belongings while a sheriff’s deputy shadows them, and find a new place to call home. It can be more traumatic for a family renting a property that has gone to foreclosure, especially if language barriers exist. Imagine a sheriff’s deputy showing up and asking you to remove yourself and your belongings pronto. It doesn’t always happen that way, of course, but it does happen.

Where does all this stuff go?

Most agents and buyers shopping in our current market do not have to witness a scene scattered with stuff from the previous occupant. The reason is that when a property goes to foreclosure the entity that now owns the property will contract a third party to clean up the mess, otherwise known as a “trash out” to those in the real estate field. The third party will come in and remove what was left behind by the previous owner and/or occupant. This is usually completed prior to the property going on the market and being advertised on the MN MLS.

Where does all this stuff go? Typically, to the dump. Anything of value is usually removed prior to foreclosure.

The picture included in this post was taken from a foreclosed home in Minneapolis while I was performing a valuation for the REO servicer.