Usually banks have inspectors who thoroughly go through any foreclosed properties with hopes that the property can be salvaged for a prompt sale to cover their losses. Some are very capable and keep a close eye on valuable property. Some don't give a damn. If you think the property is in harm's way...or it poses a fire hazard...or a health hazard...most assuredly call the bank and report it. They may or may not appreciate the info...but either way...you will feel better about the issue. If the trees fall on their house during a storm...they won't be too happy about it. If it were me...I would report it. If the bank doesn't respond in a timely fashion...report it to your city building inspector. Usually, cities don't want blighted areas any more than you do.

($1.5K). 1,500 dollars? Or did you mean another amount?

I think she meant $1.5 M

Banks are not in the business of property management :-) I worked for many years for a large regional bank that was heavily invested in both commerial and residential real estate (I focused on the commercial end) and I cannot remember a foreclosed residential propery ever being inspected or monitored in any way. Commercial properties were another story but sigificantly larger dollar amounts were involved with those. You might get a very superfical clean up when they try to market the property, just to give a more appealing face to potential buyers. But other than that, I wouldn't expect much.

btw, the time span between foreclosure and actively marketing or selling the property can be significant........

Perhaps your town building inspector would check it out?

If you fill out a city code violation form online, the owner of the property will be made to respond. This could be productive!

Yes, the listing was at $1.5M. A smaller *flag lot* up the street is currently on for $1.2M.

Do you have an HOA?

One of the houses in our neighborhood sat empty and was bank owned for 5 years. We live outside the city limits, but do have a neighborhood HOA. The HOA paid for the yard to be mowed, and then put a lien on the property. It was the only way they could get the bank to pay.

The ONLY time the bank even responded to any contact from the HOA was when someone notified them the house had been broken into and a window was sorely damaged. Even then it was weeks to send someone out to board it up.

I would contact your town. Something like this can lower your property values.

Our township just added a new regulation about foreclosed homes. The bank has to maintain the property - mow the grass, remove snow and maintain the roof and exterior. If they fail to do this somehow our town initiates a legal take-over. I don't know the legalities and I'm sure this takes forever but at least the town is trying to remedy the situation.

Maire, many municipalities have a property maintenance code. In my town, there is a property maintenance code and it's very strict. Even if you list a house for sale and move, it must be maintained in and out until transferred to new owner. If not, the city takes over exterior maintenance, and after the 3 rd time, places a lien on the property and moves to assume it, foreclose on it, and sell it at auction. That's how you deal with pi$$ poor property owners.

This is a different situation, but similar. We have a lake home. There is a family, multi-multi millionaires if not billionaires, who own a complex of multi-million dollar homes, starting 2 houses from us and extending for about 15 homes up the lakeshore, with a few private owners scattered in between their homes. (They buy up when people sell and either tear down or remodel). The matriarch passed away about 5 years ago (patriarch long gone). She gave her home (on the lake) to her granddaughter. Her son, who owned a home across the street and not on the lake, was angry and vowed to stop caring for his home and never set foot in the town again. And he hasn't. The house is probably a 3 million dollar home, and it is left to rot. The city finally stepped in and made him pay to mow his acres of land, which had become severely overgrown. Bears, fox, deer were living on his lawn. All of the other properties are maintained by a full-time ground crew. Just a sad, sad situation.

Funny thing is, this family is so powerful and contributes so much money to this little town, that no amount of complaints from the other homeowners could make the town clean up his property. I don't know why, but after 2 years of not mowing, the property is mowed.

Thanks for the suggestions about the city. We don't need a HOA; city has plenty of rules -- sometimes the teeth to go with them! I'll call and ask what's up.

The front parkway is being mowed -- "mow and go". A passer-by would have to peer in at the driveway entrance to notice that the house looks abandoned. It's at the rear of the property. The lot has always been 'natural', just not to this extent!

We and our neighbors like our 'country road', but this is getting kind of *beyond* that. We are almost at the East/West midpoint of our small city -- so not in 'the boonies'.