Re: removing assets from property in foreclosure
Posted by Jim V on October 23, 2006 at 18:16:42:
In Reply to: removing assets from property in foreclosure posted by rich on October 23, 2006 at 14:00:30:
Rich,
I pretty much agree with Steele, if you replace existing fixtures with lower quality ones before you have to be out of the proeprty, it's unlikely anyone will ever know the difference. Aside from the possible ethics of doing so, it doesn't seem very efficient to spend the time to remove and replace fixtures. I don't think there's a very strong resale market for them, and I personally wouldn't want to store them for some length of time just in case I might be able to use them someday. I did something like that once with some decent ceiling fans that I stored for a while, then ended up giving them away after about a year. It seemed like a good idea at the time, but I wouldn't do it again.
: we are in connecticut and property is in "strict foreclosure". We got our law day extended out to january and have had property on market for several months. lots of interest but no offers. have already reduced price 20k below market value. House is immaculate with many new updates. If we concede defeat and tell lender to come and get house what fixtures, appliances can we legally take with us. (i.e., stove, refrigerator, ceiling fans, etc.) I would not leave bare wires but replace expensive fixtures with cheap ones.