Bank-owned on Stanwich

477 Stanwich Road has been listed for $1.825 million by the foreclosing party, Retained Realty. As recently as this past September, the original owners couldn’t find a buyer at $1.985, but perhaps this lower price tag will stir up some action.

I’m always wary of foreclosed houses because they’re sold “as is”, and the soon to be evicted owners usually aren’t inspired to put much (any) money into maintaining them. Unless a buyer is looking at a property solely as land, these situations definitely call for a thorough inspection before an offer is made. If a lender won’t grant permission for an inspection, I’d advise taking a hard pass.