Jail Time for Man Convicted of Stripping Foreclosed Home

This post was written by jd on March 8, 2010
Posted Under: Real Estate
Example of Stripped Home

Example of Stripped Home

At last, someone has been convicted of stripping their foreclosed home! After showing many homes that have been foreclosed on and stripped, it’s about time law enforcement is doing something about this.

For example, I was going to make an offer on a foreclosed home for a  client just this last week, but the listing agent told me to figure $10,000 extra to the purchase price to replace the well pump and tank that had been stripped out.

According to AZFamily.com

“Authorities say a real estate agent has been convicted of fraud for stripping fixtures from his foreclosed home in  Anthem.

Maricopa County prosecutors say it’s the first conviction in a so-called “home stripping” case so far.

Authorities say 34-year-old Kailash Bhatt advertised kitchen cabinets, granite countertops, a double oven, microwave and dishwasher for sale on the Internet.

They say Bhatt was arrested after he accepted $2,000 from an undercover mortgage task force agent for the items, violating the mortgage company contract on the home.

After a five-day trial, prosecutors say Bhatt was convicted Thursday of defrauding secured creditors and will be sentenced April 1.”

Stripping out cabinets, granite counter tops? Wow, glad he’s going to jail and I’m sure he’s losing his license too. So, what do you think?

John J. O’Dell
Real Estate Broker

Reader Comments

i definitely think a punishment is due. but what about the owners of homes that are foreclosed on? i feel they should be charged. if a home can be foreclosed on, theirs a lien, therefore the home is property belonging to a mortgage company. i cannot wait to hear about an owner, if one can call them that, is prosecuted.

Written By Anonymous on March 13th, 2010 @ 1:47 PM