I just got back with a colleague on one of his properties he was to close supposedly today. Everything got stopped due that thieves cut all the copper underneath the house and now buyer doesn't want the property, unless bank replaces the plumbing taken. Also, they took A/C compressor! I guess a new way of doing business with REO properties.

I rarely see copper anymore unless we are out in the far suburbs. Pretty much everything urban has been already cut out. unbelieveable

This isn't new, REOs have been loosing copper (and other resaleable materials) for years. Appliances are commonly stolen, copper and aluminum (in any form) for scrap, cabinets, heating and A/C systems. etc., whatever they can sell.

Yeah, many times we have had to clean up the remenants of window air conditioners that have been cut apart to get out what they can.

Happens all the time. Im in process of cancelling a contract now due to the copper stripping. 2 got killed last week. DAMN Copper thiefs!!!

Last year they came in and took everything, Windows, cabinets, toilet, and then to end all the fricken front door!

The bank should pay it one way or the other to make the deal go through as they will have to deal with it on any future sales.

When rehabbing if the copper lines are stolen they replace with pvc so the thieves won't want to do it again.