Money in Attic

[John Allingham]

Here's a hypothetical question. You are inspecting an attic and you find an envelope containing $10,000. What would you do?

[James H. Bushart]

I would look for the camera that was filming me...smile, wink....and finish my inspection.

[Dan Bowers, CMI]

Look carefully for hidden cameras to start. Then based upon the results of that I could make an educated decision.

[Joseph Burkeson, CMI]

Just remember those sailent words of Groucho Marx... "Love flies out the door when money comes innuendo."

[David P. OKeefe]

I would immediately call the police and turn in that envelope containing $5000.

[Brian K. Smith]

what money.......lol

[Gary Farnsworth]

Pictures are worth a thousand words, and more in dollars. Take a picture of the item/area, stop the inspection, call listing agent, call police, leave.

Even if the amount located is a few bucks, or even a few quarters, leave it, take a picture, show it to the buyer and his/her agent. Even if I see guns, I alert the people in attendance right away. Video cameras are small, and can be everywhere these days.

I once saw a new RE client throw a few quarters around my truck to see if I would pick them up after I left while I was inspecting the outside of the home first. She introduced herself, and I went back to my truck to get my tools. I then mentioned to her that she dropped some coins on the street, since there were none when I parked my truck just moments before. First and last inspection with that RE.

[Jeffrey R. Jonas]

That would depend on circumstances...

Currently, most of my inspections are REO. So, who actually is the rightful owner of the cash? It's not for me to decide, and I certainly will not leave it up to the uAnHaJ (unAuthority not Having any Jurisdiction... such as an Agent). (After taking pictures) call the police and report the discovered cash. Follow the instructions of the police, which may mean a trip to the police station to turn it in and file a report. It is then their responsibility. I don't know if this still applies, but in days gone by, after 30-60-90 days if no one claims it, it becomes your's.

[Kenneth Dolin]

Make an offer on the house!

[Christopher Currins]

What did you do with it John?

[Eric C. Van De Ven]

Originally Posted by jjonas

That would depend on circumstances...

Currently, most of my inspections are REO. So, who actually is the rightful owner of the cash? It's not for me to decide, and I certainly will not leave it up to the uAnHaJ (unAuthority not Having any Jurisdiction... such as an Agent). (After taking pictures) call the police and report the discovered cash. Follow the instructions of the police, which may mean a trip to the police station to turn it in and file a report. It is then their responsibility. I don't know if this still applies, but in days gone by, after 30-60-90 days if no one claims it, it becomes your's.

If the house were occupied, nothing. If it were vacant, I would call the police and report it.
I believe that the above bolded portion is correct.

I have had Realtors say if I found any money, they would split it with me. Usually the same ones who say, it is an as is deal, don't blow it for me!

[David P. Valley]

I don't go through envelopes in attics, so I would never get caught in such a predicament.

Why are you rummaging through someone elses belongings?

[Stephen W. Stanczyk]

Originally Posted by jjonas

I don't know if this still applies, but in days gone by, after 30-60-90 days if no one claims it, it becomes your's.

This would only apply if you found it on public property. Finding it in a privately owned residence does not count. Even taking that money for a short time would be considered theft and at $10k would be a felony in every State.

I have to agree with David, why would anyone be opening an envelope that does not belong to them? Might as well rifle through their jewelry box.

[Eric C. Van De Ven]

You are inspecting an attic and you find an envelope containing $10,000.

The way the question was worded, it doesn't say you found an envelope then opened it and found 10K. It also doesn't mention anything about "rummaging" through anything.

I think the gist of the questions is, "Hypothetically, you found 10K in a home you were inspecting". What would you do?

[David P. Valley]

Originally Posted by evandeven

The way the question was worded, it doesn't say you found an envelope then opened it and found 10K. It also doesn't mention anything about "rummaging" through anything.

I think the gist of the questions is, "Hypothetically, you found 10K in a home you were inspecting". What would you do?

Hypothetically....it states that it was an envelope that was found. Why would an inspector be holding an envelope that doesn't belong to him/her in the first place? It belongs to the homeowner.