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Appliance [email protected] home?moral?

1318 Views 3 Replies 3 Participants Last post by  tgeb
So we were out and about today on a beautiful Saturday; typical garage sale day. In 2006, a RE investor decided to take advantage of the free wheeling unsecured loan environment. He built a falsely inflated, overpriced home in an attempt to reap an outrageous profit on the sale. This house has been on the market for at least 1 1/2 years with no bites. My wife and I had toured the home, noticing all the high end ammenities, in particular the cabinetry, granite and appliances.

Today, there was a garage sale at this unsold home. On the driveway were the following: Fisher Paykel dish drawer, Thermador oven and matching microwave AND a SubZero refrigerator, along with furniture, artwork, etc. The appliances in particular were being offered $500 for the D/W, $500 for the oven, $300 for the micro and ? for the refrigerator. We watch the RE market closely and KNOW which homes are NOD and REO(which this home is).

Knowing what I know, I boldly inquired if these appliances were from this particular house. The seller claimed that NO these were from another property.

Your thoughts on whether a homeowner/investor who over extended himself due to greed, is it legal, is it moral or?
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Your thoughts on whether a home investor who over extended himself due to greed, IS TAKING THIS ROUTE TO SELL APPLIANCES, WHICH ARE PART OF THE ORIGINAL FINANCING AND IS BEING FORECLOSED UPON, is it legal, is it moral or?
When in doubt....walk away. Probably come back to bite you in the arse some day.
Whether it is illegal or not I don't know, but it certainly is unethical, and should be criminal.
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