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  • July 22, 2009 at 4:11 PM #436003
    sdrealtor
    Participant

    I have a client that is a tenured Law School professor who is buying a property. I once gave him a CW REO addendum to read and it almost killed him. He said it was the worst written most one-sided document he had ever seen and that there is no way he could ever sign something like that.

    July 22, 2009 at 4:37 PM #435256
    AK
    Participant

    The addendum also asks the buyer to waive the right to sue for specific performance … but if it happened to me you bet I’d sue in small claims for liquidated damages!

    July 22, 2009 at 4:37 PM #435463
    AK
    Participant

    The addendum also asks the buyer to waive the right to sue for specific performance … but if it happened to me you bet I’d sue in small claims for liquidated damages!

    July 22, 2009 at 4:37 PM #435781
    AK
    Participant

    The addendum also asks the buyer to waive the right to sue for specific performance … but if it happened to me you bet I’d sue in small claims for liquidated damages!

    July 22, 2009 at 4:37 PM #435854
    AK
    Participant

    The addendum also asks the buyer to waive the right to sue for specific performance … but if it happened to me you bet I’d sue in small claims for liquidated damages!

    July 22, 2009 at 4:37 PM #436023
    AK
    Participant

    The addendum also asks the buyer to waive the right to sue for specific performance … but if it happened to me you bet I’d sue in small claims for liquidated damages!

    July 22, 2009 at 9:30 PM #435366
    jimg111
    Participant

    Frequently banks will remediate mold and will cover section 1 termite to a capped limit of specific dollars. In reference to the addendums, of course they are totally one sided and banks generally will lose any court battle but not have to pay any damages as the precedent is that they have already lost a significant amount of capital on the property already.

    July 22, 2009 at 9:30 PM #435572
    jimg111
    Participant

    Frequently banks will remediate mold and will cover section 1 termite to a capped limit of specific dollars. In reference to the addendums, of course they are totally one sided and banks generally will lose any court battle but not have to pay any damages as the precedent is that they have already lost a significant amount of capital on the property already.

    July 22, 2009 at 9:30 PM #435891
    jimg111
    Participant

    Frequently banks will remediate mold and will cover section 1 termite to a capped limit of specific dollars. In reference to the addendums, of course they are totally one sided and banks generally will lose any court battle but not have to pay any damages as the precedent is that they have already lost a significant amount of capital on the property already.

    July 22, 2009 at 9:30 PM #435964
    jimg111
    Participant

    Frequently banks will remediate mold and will cover section 1 termite to a capped limit of specific dollars. In reference to the addendums, of course they are totally one sided and banks generally will lose any court battle but not have to pay any damages as the precedent is that they have already lost a significant amount of capital on the property already.

    July 22, 2009 at 9:30 PM #436133
    jimg111
    Participant

    Frequently banks will remediate mold and will cover section 1 termite to a capped limit of specific dollars. In reference to the addendums, of course they are totally one sided and banks generally will lose any court battle but not have to pay any damages as the precedent is that they have already lost a significant amount of capital on the property already.

    July 22, 2009 at 10:08 PM #435386
    SD Realtor
    Participant

    sdr law students must be fun clients!

    Funny but last I checked with all these evil addendums that the banks have, nobody was holding a gun to any buyers saying that they must buy the home.

    ************

    Furthermore the bank has never set foot in the home, they have no idea about the condition of the property, they have not really even seen the property and are relying on others to send them pictures and reports. In my opinion it would be pretty stupid for them not to have addendums and releases of liabilities such as they do now. I see nothing wrong with any of the addendums brought up in any of these posts to be honest.

    ************

    Try to remember, you don’t have to buy the home guys.

    July 22, 2009 at 10:08 PM #435592
    SD Realtor
    Participant

    sdr law students must be fun clients!

    Funny but last I checked with all these evil addendums that the banks have, nobody was holding a gun to any buyers saying that they must buy the home.

    ************

    Furthermore the bank has never set foot in the home, they have no idea about the condition of the property, they have not really even seen the property and are relying on others to send them pictures and reports. In my opinion it would be pretty stupid for them not to have addendums and releases of liabilities such as they do now. I see nothing wrong with any of the addendums brought up in any of these posts to be honest.

    ************

    Try to remember, you don’t have to buy the home guys.

    July 22, 2009 at 10:08 PM #435911
    SD Realtor
    Participant

    sdr law students must be fun clients!

    Funny but last I checked with all these evil addendums that the banks have, nobody was holding a gun to any buyers saying that they must buy the home.

    ************

    Furthermore the bank has never set foot in the home, they have no idea about the condition of the property, they have not really even seen the property and are relying on others to send them pictures and reports. In my opinion it would be pretty stupid for them not to have addendums and releases of liabilities such as they do now. I see nothing wrong with any of the addendums brought up in any of these posts to be honest.

    ************

    Try to remember, you don’t have to buy the home guys.

    July 22, 2009 at 10:08 PM #435984
    SD Realtor
    Participant

    sdr law students must be fun clients!

    Funny but last I checked with all these evil addendums that the banks have, nobody was holding a gun to any buyers saying that they must buy the home.

    ************

    Furthermore the bank has never set foot in the home, they have no idea about the condition of the property, they have not really even seen the property and are relying on others to send them pictures and reports. In my opinion it would be pretty stupid for them not to have addendums and releases of liabilities such as they do now. I see nothing wrong with any of the addendums brought up in any of these posts to be honest.

    ************

    Try to remember, you don’t have to buy the home guys.

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