New Home Buyers Hot Tips Part 15: Risks of Mortgagee Property Auctions:

New Home Buyers Hot Tips :

Part 15 : Risks of Mortgagee  Property Auctions:

f.)  A bank acting as the mortgagee does not warrant that the property will be livable or in a good state of repair.

This means that the home you see on the outside may not be what it looks like from the inside. As stated before, the Mortgagee does not guarantee the chattels. Nor do they guarantee that the house will be in good repair. If you are actually able to get into a mortgagee property before the auction to inspect it, what it looks like then before the auction, cannot be guaranteed to still look like that was after the property has been sold. There have been numerous cases where the previous owner has striped out all chattels and cause damage to the property before they have vacated the property.