Winterization in Minnesota Foreclosures (REOs)
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Winterization Notice in MN Foreclosure
If you have been shopping the housing market in the Twin Cities for homes at or under $200,000 chances are greater than not that you have been through a foreclosure. Hopefully, that foreclosed home was prepared for vacancy and our cold winters before the heat was shut off.
Winterization protects against freeze damage and ultimately MOLD.
When a homeowner begins missing mortgage payments the lender will need to determine if the property is occupied or vacant, and will often do a property inspection even if the property is occupied. If the property is vacant the lender will need to secure the property (change the locks) and prepare the home for our cold climate by winterizing it. Winterization protects against freeze damage and ultimately MOLD.
When real estate in Minnesota goes to foreclosure the lender will contract a property preservation company to secure the property, take photos, and winterize it. For properties with forced air heat the process is more simple than properties with boilers (hot water heat). The water main is turned off and the faucets are all opened. The water meter is disconnected.
Winterized toilet in MN foreclosure
The pipes can be “blown out” with an air compressor. Next, anti-freeze is added to the toilets and traps. Alternatively, some companies will use a wet-vac to remove the remaining water in the toilets. The water heater is drained into a utility sink or floor drain. If the property is heated with hot water heat the boiler and registers have to be drained.
The process is well worth the time and expense to the lender. If the property is not winterized and the pipes freeze the value will greatly diminish (in addition to greating a health risk due to mold growth).
The communication between the lender and property owner can be unsuccessful leading to property damage. Lenders are also backed up with the amount of properties going to foreclosure, and every property is not inspected in sufficient time.
PLEASE NOTE: Even if a property has been winterized freeze damage (broken pipes) may still exist.
