Winterized REO's

[John H.]

Anyone notice that almost every house with a orange "winterized" sticker on it has burst pipes?

Maybe I can get a hold of the banks and get my 5 year old nephew a job, he loves putting stickers on things.

[Bill Patterson]

Buying the REO "as is" by an investor or rehabber nets the lender less if their inspection detects leaks. There is less damage than if the property was not winterized at all. So, the cost of doing so (even an inadequate winterization) is better than doing nothing. Like Jason said, often the winterization is done after some of the damage is done. It is hard to blow the water out of the lines when there are already splits in the piping letting the air out! Also, the water meter should be disconnected, so there is no chance of a valve leaking by and getting water into the system.

Buyer beware!
Bill