Why would they? It costs a lot of money to upkeep them and it’s not necessary since whoever buys it will refurbish it. It would be far more wasteful for the bank to maintain it. Banks are not real estate developers or property managers, they’re just banks.

I believe the banks just don’t care. It’s such a shame such nice bedroom sets. Had to be multiples related families In this house.

For real! I would love one!

@@Rebncliff Yeah me too, just one😊

Likely because they can do better financially selling to a developer since it includes 40 acres. With properties that don’t have nearly as much land may just be used to claim a loss on the bank’s taxes, but I also find myself scratching my head many times.

I always say, they don't make things like they used too!

@@user-tk3ee4zc1m they sure don’t.

Let's buy it and turn it into an assisted living house!

I'd love to see that happen. Let's do it!

Yes a 501c3 would save it & put to good use

The property would make a nice new neighborhood for 300 families once these functionally obsolete houses are leveled.

I quit watching the video after 6 mins as this guy doesn't talk right and repeats himself.

He just doesn't know things

um no its expensive to move all those posesions across ocean

@@realist7239 agreed, this is one of the possibilities I mentioned in the live chat.

Bank owns everything now,

I wish I had a logical answer for why banks leave them like that.

To understand you have to think of money as just an idea. Money is only valuable if people think it is valuable, otherwise it is just paper. So, when banks repossess properties to settle debts, they take physical assets that represent something tangible. Tangible is important to underdtand for land and structures, because the land is physical (so not just an idea) and the structure is physical (so not just an idea) and those physical things have real world use applications. That real world use as tangible assets means that the money that was "recouped" by taking the physical stuff then exists on the books as liquidable real assets with intrinsic value. Assets represent what the bank owns, not what it is owed as the idea that is money. So what happens is, they let the assets sit in their books as tangible value that they can lend and borrow against. That is part of the business of being a bank. The problem is, banks aren't very good at maintaining the properties because banks aren't in the business of real estate maintenance, they are in the business of making money. So as they use the "asset value" on their books as the liquidable property to lend and borrow against as leverage in their assets, the actual properties deteriorate and lose value over time. The banks know this and plan for depreciation over time, but they can usually make a lot of money off of the interest activity that came from using the asset in their reserve, so they make money just from it existing in their books by lending and borrowing against. That is why they don't try too hard to offload properties until they have to, like when they auction them off due to complaints about neglect, nuisance laws, or costs to maintain or repair exceed the profits they make from interest on loans they've lent out relative to having the assets to lend against. This property being worth 5 million on the books as liquidable assets with intrinsic physical value just means the bank has increased its capacity to do business with money by way of the 5 million dollar boost to their books. That's what is happening.

@@jadesea562 Jadesea you are amazing. Thank you for such a thorough explaination of what's going on with these properties. It makes perfct sense to me now.

@jadesea562 you wouldn’t be in the banking business now would you? 😂😉

Thank you, my mind was just blown. It's been awhile.

Yeh, I cringed when he shut it, lol. Like open that back up 😂

He doesn't know most things. Like with the bottle of water left in the bathroom sink, "half drinking" say what? I quit watching after awhile.

Rite weird vibes .. plastic cups in rooms kids toys & clothes randomly left behind!? All those couches & beds ..

and in need families, all that furniture is beautiful. just sitting there going to waste, such a shame!!

Shelves, not stairs

We count the “and everything”’s too.

Need to start that habit. Thank u for the idea. Puff, puff, pass

😂😂😂

I quit watching after 6 mins he doesn't talk right

Crazy, insane, cool, vibe with lots of stuff and what-not. This guy needs to learn how to speak. Last time I see one of his videos. What's with all those other people roaming around in the background? That's just CRAZY!

I got that cult vibe to

Something likely very stange went on around the property. Why have all those other houses? Romanians? Hmmm we know they weren't gypsies if they had a business

@@MissX905They must have brought family over that have their own families

I have that problem on the abandoned videos a lot too.

Thank you!!

Or maybe travelling/roaming gypsies stopped by every now and then lol. Weird vibes about this property

I thought the same!

I thought the same!

Yes and some states have squatters rights too.

@@janamaecarreri6091 they do here I believe. So, you've got to go to court to get them out and then get police there to make sure they get out. It's crazy.

Thank you!!!

My theory is they left all the furniture bc it's expensive to ship it overseas if they indeed moved back to Romania. Sad bc they had some expensive gorgeous pieces.