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  • January 3, 2008 at 10:13 AM #11393
    Bunny Meadows
    Participant

    Can someone please clarify exactly what this means? Normally, with an older home (20+ years old), I would steer clear. But with a newer home, does this simply imply that there is cosmetic damage?

    Is it safe to consider this type of home?

    Please help.

    Bunny M.

    January 3, 2008 at 10:22 AM #128461
    nostradamus
    Participant

    Hey hunny bunny

    It’s safe if you pay due diligence. You can’t be lazy about the inspections.

    “Where is” seems a strange thing to say about a house. Are you going to buy a house then move it somewhere else?

    “all it’s faults”. Is it located directly on an earthquake fault line?

    The likely case is the house was totally thrashed by the previous owner when it got repo’d. This happens a lot.

    January 3, 2008 at 10:22 AM #128705
    nostradamus
    Participant

    Hey hunny bunny

    It’s safe if you pay due diligence. You can’t be lazy about the inspections.

    “Where is” seems a strange thing to say about a house. Are you going to buy a house then move it somewhere else?

    “all it’s faults”. Is it located directly on an earthquake fault line?

    The likely case is the house was totally thrashed by the previous owner when it got repo’d. This happens a lot.

    January 3, 2008 at 10:22 AM #128636
    nostradamus
    Participant

    Hey hunny bunny

    It’s safe if you pay due diligence. You can’t be lazy about the inspections.

    “Where is” seems a strange thing to say about a house. Are you going to buy a house then move it somewhere else?

    “all it’s faults”. Is it located directly on an earthquake fault line?

    The likely case is the house was totally thrashed by the previous owner when it got repo’d. This happens a lot.

    January 3, 2008 at 10:22 AM #128627
    nostradamus
    Participant

    Hey hunny bunny

    It’s safe if you pay due diligence. You can’t be lazy about the inspections.

    “Where is” seems a strange thing to say about a house. Are you going to buy a house then move it somewhere else?

    “all it’s faults”. Is it located directly on an earthquake fault line?

    The likely case is the house was totally thrashed by the previous owner when it got repo’d. This happens a lot.

    January 3, 2008 at 10:22 AM #128734
    nostradamus
    Participant

    Hey hunny bunny

    It’s safe if you pay due diligence. You can’t be lazy about the inspections.

    “Where is” seems a strange thing to say about a house. Are you going to buy a house then move it somewhere else?

    “all it’s faults”. Is it located directly on an earthquake fault line?

    The likely case is the house was totally thrashed by the previous owner when it got repo’d. This happens a lot.

    January 3, 2008 at 10:33 AM #128744
    temeculaguy
    Participant

    bunny, it’s code for this is a REPO. With resale houses you get to ask them to fix things after the inspection, with a repo, what you see is what you get. In the case of a lot of the repos they were built in the last few years, the roof warranty and most times a lot of the other components are still covered under the builder’s warranty but the bank wants nothing to do with that, so if you buy it, you fix it or you talk to the builder. Some repos get a B.S. refurbishment and new crappy flooring, I prefer they just leave it alone, mark it down in price and let me fix it.

    Most the repos say the exact same thing, not all are thrashed, it’s canned language.

    January 3, 2008 at 10:33 AM #128471
    temeculaguy
    Participant

    bunny, it’s code for this is a REPO. With resale houses you get to ask them to fix things after the inspection, with a repo, what you see is what you get. In the case of a lot of the repos they were built in the last few years, the roof warranty and most times a lot of the other components are still covered under the builder’s warranty but the bank wants nothing to do with that, so if you buy it, you fix it or you talk to the builder. Some repos get a B.S. refurbishment and new crappy flooring, I prefer they just leave it alone, mark it down in price and let me fix it.

    Most the repos say the exact same thing, not all are thrashed, it’s canned language.

    January 3, 2008 at 10:33 AM #128637
    temeculaguy
    Participant

    bunny, it’s code for this is a REPO. With resale houses you get to ask them to fix things after the inspection, with a repo, what you see is what you get. In the case of a lot of the repos they were built in the last few years, the roof warranty and most times a lot of the other components are still covered under the builder’s warranty but the bank wants nothing to do with that, so if you buy it, you fix it or you talk to the builder. Some repos get a B.S. refurbishment and new crappy flooring, I prefer they just leave it alone, mark it down in price and let me fix it.

    Most the repos say the exact same thing, not all are thrashed, it’s canned language.

    January 3, 2008 at 10:33 AM #128646
    temeculaguy
    Participant

    bunny, it’s code for this is a REPO. With resale houses you get to ask them to fix things after the inspection, with a repo, what you see is what you get. In the case of a lot of the repos they were built in the last few years, the roof warranty and most times a lot of the other components are still covered under the builder’s warranty but the bank wants nothing to do with that, so if you buy it, you fix it or you talk to the builder. Some repos get a B.S. refurbishment and new crappy flooring, I prefer they just leave it alone, mark it down in price and let me fix it.

    Most the repos say the exact same thing, not all are thrashed, it’s canned language.

    January 3, 2008 at 10:33 AM #128715
    temeculaguy
    Participant

    bunny, it’s code for this is a REPO. With resale houses you get to ask them to fix things after the inspection, with a repo, what you see is what you get. In the case of a lot of the repos they were built in the last few years, the roof warranty and most times a lot of the other components are still covered under the builder’s warranty but the bank wants nothing to do with that, so if you buy it, you fix it or you talk to the builder. Some repos get a B.S. refurbishment and new crappy flooring, I prefer they just leave it alone, mark it down in price and let me fix it.

    Most the repos say the exact same thing, not all are thrashed, it’s canned language.

    January 3, 2008 at 11:10 AM #128486
    Bunny Meadows
    Participant

    Thanks to both of you! I had a feeling it was boilerplate – just wasnt sure.

    I suppose it’s to let “picky” buyers know that the front door wont be fixed, cracks in the wall, etc.

    I’ve been shocked at the condition of some of the repos I’ve seen – I mean, like banisters ripped off the staircase, holes in the wall, sinks pulled out. It’s just sad. If I was in a foreclosure/repo situation, I’d be sad and disappointed, but I wouldnt trash the place.

    My husband has pointed out that if we look at a house that is/around 10 years old, we have to be aware that things like the furnace or a/c may need to be replaced, etc. The normal things that break down around that time.

    Thanks so much for your replies. You guys are GREAT!

    bunny kisses,

    Bunny

    January 3, 2008 at 11:10 AM #128730
    Bunny Meadows
    Participant

    Thanks to both of you! I had a feeling it was boilerplate – just wasnt sure.

    I suppose it’s to let “picky” buyers know that the front door wont be fixed, cracks in the wall, etc.

    I’ve been shocked at the condition of some of the repos I’ve seen – I mean, like banisters ripped off the staircase, holes in the wall, sinks pulled out. It’s just sad. If I was in a foreclosure/repo situation, I’d be sad and disappointed, but I wouldnt trash the place.

    My husband has pointed out that if we look at a house that is/around 10 years old, we have to be aware that things like the furnace or a/c may need to be replaced, etc. The normal things that break down around that time.

    Thanks so much for your replies. You guys are GREAT!

    bunny kisses,

    Bunny

    January 3, 2008 at 11:10 AM #128759
    Bunny Meadows
    Participant

    Thanks to both of you! I had a feeling it was boilerplate – just wasnt sure.

    I suppose it’s to let “picky” buyers know that the front door wont be fixed, cracks in the wall, etc.

    I’ve been shocked at the condition of some of the repos I’ve seen – I mean, like banisters ripped off the staircase, holes in the wall, sinks pulled out. It’s just sad. If I was in a foreclosure/repo situation, I’d be sad and disappointed, but I wouldnt trash the place.

    My husband has pointed out that if we look at a house that is/around 10 years old, we have to be aware that things like the furnace or a/c may need to be replaced, etc. The normal things that break down around that time.

    Thanks so much for your replies. You guys are GREAT!

    bunny kisses,

    Bunny

    January 3, 2008 at 11:10 AM #128652
    Bunny Meadows
    Participant

    Thanks to both of you! I had a feeling it was boilerplate – just wasnt sure.

    I suppose it’s to let “picky” buyers know that the front door wont be fixed, cracks in the wall, etc.

    I’ve been shocked at the condition of some of the repos I’ve seen – I mean, like banisters ripped off the staircase, holes in the wall, sinks pulled out. It’s just sad. If I was in a foreclosure/repo situation, I’d be sad and disappointed, but I wouldnt trash the place.

    My husband has pointed out that if we look at a house that is/around 10 years old, we have to be aware that things like the furnace or a/c may need to be replaced, etc. The normal things that break down around that time.

    Thanks so much for your replies. You guys are GREAT!

    bunny kisses,

    Bunny

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