can someone explain this/ bank foreclosure/ sheriff sale on house
ok, there is this house I've looked at that's been sitting empty for about a year. Now, the roof is leaking and the ceiling is bad. Plus, the board of health wont let anyone live there because the septic tank leaks. In other words, it needs major repairs.
Now, I called the bank and they said they cant sell it until it goes through the sheriff sale. They said its going through the sale "soon". We talked to the previous owne,r and she cant sell it because the health dept wont allow her because she would have to update the septic tank. She does not have the money.
Why does the bank just let the house sit there and rot away? Wouldn't they want to get rid of it, especially when they know someone wants the dump? Also, the bank is aware of the roof and the septic tank.
Lastly, there are no liens on this house. The ladies hubby died and her step son died the next month. She just could not afford to live there. She tried to sell it but the health dept said it has to be repaired. She could not afford it and just moved out one day.
Why does it take so long for the banks to sell it?