Reason for Cold Foreclosure

The house was cold. Unoccupied houses usually are. The buyer assumed the furnace had been turned off since the home was an unoccupied foreclosure. He was partially correct. The furnace had definitely been turned off. More than that, it had been removed. Without an inspection the buyers would not have known he was going to have to replace the furnace as well as the air-conditioning unit. Armed with an inspection report, he was able to negotiate a new furnace and air conditioning unit from the bank.