What are the consequences of starting work on a foreclosure house before closing?

**Duc1198** · 11-11-2010, 04:50 PM

I know the seller(fannie mae I think) wont rent the unit out for the few days/weeks before closing so what if you start working on a condo you know 100% you're going to close on (cash deal, have closing date, money is wired, etc) and they find out about it?
The combination lock box thats on it is broken and stays open with key in it so realtor wont be responsible for giving the key either.
Has anyone seen this happen?

**markbrian** · 11-13-2010, 08:54 AM

You are never 100% guaranteed to close. Don't count your chickens before they hatch...

Would the seller consider you working on the property to be trespassing? Would the REALTOR?

What does the contract and addendum say about this? More importantly, what does your attorney say about this?

What if you get hurt on the property while doing this work? Who is going to be liable?

No legal advice given.

**Greg** · 11-13-2010, 10:11 AM

Listen to what Mark said.

What if they find a problem with the title and pull it off the market?

What if the house burns down?

What if the house burns down because of you?

What if the police show up while you are trespassing and take you away? You will be trespassing by going in there regardless of the broken lockbox.

If I were you I would notify the agent that their lockbox is broken so vandals or copper thieves don't trash the place.

ps. there is never a 100% guarantee of any closing happening.