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