Bank accepted offer – scarry addendum

[SD Realtor]

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.

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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.

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

[bsrsharma]

This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.

[bsrsharma]

This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.

[bsrsharma]

This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.

[bsrsharma]

This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.

[bsrsharma]

This is so inequitable I wonder if it’s legally enforceable.

I think anyone who wants to buy an REO is obviously weighing the risk of buying an “As Is” property with all the “Defects” in order to get a good deal. (Some times 30% off). So, it is essentially a “Venture Capital” operation. You buy a 600K property for 400K with a small chance of having a surprise $50K repair.

[Anonymous]

30% off what?

I rejected a counter when they sent me an “acceptance” but with an addendum stuffed with non-specified penalties for exceeding escrow time in addition to $100/day, corporate right to cancel at any time, contingency restrictions etc.

Regarding the “subject to corporate approval” clause, shouldn’t they decide whether they really want to sell the property before entering into a contract?

This is Banker’s Asset Management. They can eat pound sand as far as I’m concerned. This is the crap we are still putting up with from the banks. F*** us on the way up and F*** us on the way down.

The property is still sitting now for several weeks so my bid must have been on the high side. They weren’t willing to amend their addendum. I’ll be curious to see what they get for that dog.

[Anonymous]

30% off what?

I rejected a counter when they sent me an “acceptance” but with an addendum stuffed with non-specified penalties for exceeding escrow time in addition to $100/day, corporate right to cancel at any time, contingency restrictions etc.

Regarding the “subject to corporate approval” clause, shouldn’t they decide whether they really want to sell the property before entering into a contract?

This is Banker’s Asset Management. They can eat pound sand as far as I’m concerned. This is the crap we are still putting up with from the banks. F*** us on the way up and F*** us on the way down.

The property is still sitting now for several weeks so my bid must have been on the high side. They weren’t willing to amend their addendum. I’ll be curious to see what they get for that dog.

[Anonymous]

30% off what?

I rejected a counter when they sent me an “acceptance” but with an addendum stuffed with non-specified penalties for exceeding escrow time in addition to $100/day, corporate right to cancel at any time, contingency restrictions etc.

Regarding the “subject to corporate approval” clause, shouldn’t they decide whether they really want to sell the property before entering into a contract?

This is Banker’s Asset Management. They can eat pound sand as far as I’m concerned. This is the crap we are still putting up with from the banks. F*** us on the way up and F*** us on the way down.

The property is still sitting now for several weeks so my bid must have been on the high side. They weren’t willing to amend their addendum. I’ll be curious to see what they get for that dog.

[Anonymous]

30% off what?

I rejected a counter when they sent me an “acceptance” but with an addendum stuffed with non-specified penalties for exceeding escrow time in addition to $100/day, corporate right to cancel at any time, contingency restrictions etc.

Regarding the “subject to corporate approval” clause, shouldn’t they decide whether they really want to sell the property before entering into a contract?

This is Banker’s Asset Management. They can eat pound sand as far as I’m concerned. This is the crap we are still putting up with from the banks. F*** us on the way up and F*** us on the way down.

The property is still sitting now for several weeks so my bid must have been on the high side. They weren’t willing to amend their addendum. I’ll be curious to see what they get for that dog.

[Anonymous]

30% off what?

I rejected a counter when they sent me an “acceptance” but with an addendum stuffed with non-specified penalties for exceeding escrow time in addition to $100/day, corporate right to cancel at any time, contingency restrictions etc.

Regarding the “subject to corporate approval” clause, shouldn’t they decide whether they really want to sell the property before entering into a contract?

This is Banker’s Asset Management. They can eat pound sand as far as I’m concerned. This is the crap we are still putting up with from the banks. F*** us on the way up and F*** us on the way down.

The property is still sitting now for several weeks so my bid must have been on the high side. They weren’t willing to amend their addendum. I’ll be curious to see what they get for that dog.

[disimilar1]

Hi Piggs,
On a foreclosure which requires reairs what could one ask the RE Agt to kick in on a % of sale. He reps both sides. Buyer and seller. And yes, these docs are what I saw.

[disimilar1]

Hi Piggs,
On a foreclosure which requires reairs what could one ask the RE Agt to kick in on a % of sale. He reps both sides. Buyer and seller. And yes, these docs are what I saw.

[disimilar1]

Hi Piggs,
On a foreclosure which requires reairs what could one ask the RE Agt to kick in on a % of sale. He reps both sides. Buyer and seller. And yes, these docs are what I saw.

[disimilar1]

Hi Piggs,
On a foreclosure which requires reairs what could one ask the RE Agt to kick in on a % of sale. He reps both sides. Buyer and seller. And yes, these docs are what I saw.

[Author]

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