Sold “As Is, Where Is, And With All Its’ Faults???

[Bunny Meadows]

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.

[nostradamus]

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.

[temeculaguy]

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.

[Bunny Meadows]

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

[Bunny Meadows]

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

[Bunny Meadows]

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

[Bunny Meadows]

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

[Bunny Meadows]

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

[Anonymous]

See the trashing thing is what I’m afraid of when considering a repo. I mean, what if the previous owners poured concrete down sinks or did some other low down stuff to the house that you have to fine using a fine tooth comb. Do people do this a lot? I mean if they wanted to be sneaky, couldn’t they do some stuff you may not find for months? Like maybe urinating on closet walls or something? Not trying to be funny, but it gives me the creeps. This is the same rationale I have for wanting a brand new home: I won’t be buying anyone’s problems. Does anybody else have the same concerns that I do?

[Allan from Fallbrook]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

We had a foreclosure on our street that the new owners bought from the bank. I spoke with the wife and she said the outgoing owners had blitzed the place prior to eviction. Broken windows, torn up carpet, paint splashed on the walls, etc. When she spoke to the rep at the bank, he told her he had spent a grand total of 15 minutes at the house, because he had over a dozen other houses to look at that day. We’re in Fallbrook, and he was handling Fallbrook, Vista, part of Oceanside, Temecula, Murrieta and Menifee. One guy.

What you see is truly what you get.

[donaldduckmoore]

I have seen a repo that has foul smell and cracks and termite-infiltrated decks. The overall outlook was fine but you never can tell what the previous owner had done that is hidden.

[nostradamus]

This is all true and describes the inherent risks of buying foreclosures; however, it is also a great point to use when haggling over price.

[nostradamus]

This is all true and describes the inherent risks of buying foreclosures; however, it is also a great point to use when haggling over price.

[nostradamus]

This is all true and describes the inherent risks of buying foreclosures; however, it is also a great point to use when haggling over price.

[nostradamus]

This is all true and describes the inherent risks of buying foreclosures; however, it is also a great point to use when haggling over price.

[nostradamus]

This is all true and describes the inherent risks of buying foreclosures; however, it is also a great point to use when haggling over price.

[donaldduckmoore]

I have seen a repo that has foul smell and cracks and termite-infiltrated decks. The overall outlook was fine but you never can tell what the previous owner had done that is hidden.

[donaldduckmoore]

I have seen a repo that has foul smell and cracks and termite-infiltrated decks. The overall outlook was fine but you never can tell what the previous owner had done that is hidden.

[donaldduckmoore]

I have seen a repo that has foul smell and cracks and termite-infiltrated decks. The overall outlook was fine but you never can tell what the previous owner had done that is hidden.

[donaldduckmoore]

I have seen a repo that has foul smell and cracks and termite-infiltrated decks. The overall outlook was fine but you never can tell what the previous owner had done that is hidden.

[Anonymous]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

Allan, which is why I would prefer to buy a brand new house over a repo or resell. Of course, the repo is the bigger risk.

The low prices on repos affect comps and make everything else go down, even the price of new homes, right? So, of course, that will benefit me when I buy new.

Submitted by Ricechex on January 3, 2008 – 8:09pm.
SD Appraiser–you must have seen Pacific Heights?

Pacific Heights? Oh, yeah. I wrote the screenplay.

[equalizer]

Great line Marion: “You should have rented to the black man.”

[equalizer]

Great line Marion: “You should have rented to the black man.”

[equalizer]

Great line Marion: “You should have rented to the black man.”

[equalizer]

Great line Marion: “You should have rented to the black man.”

[equalizer]

Great line Marion: “You should have rented to the black man.”

[Anonymous]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

Allan, which is why I would prefer to buy a brand new house over a repo or resell. Of course, the repo is the bigger risk.

The low prices on repos affect comps and make everything else go down, even the price of new homes, right? So, of course, that will benefit me when I buy new.

Submitted by Ricechex on January 3, 2008 – 8:09pm.
SD Appraiser–you must have seen Pacific Heights?

Pacific Heights? Oh, yeah. I wrote the screenplay.

[Anonymous]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

Allan, which is why I would prefer to buy a brand new house over a repo or resell. Of course, the repo is the bigger risk.

The low prices on repos affect comps and make everything else go down, even the price of new homes, right? So, of course, that will benefit me when I buy new.

Submitted by Ricechex on January 3, 2008 – 8:09pm.
SD Appraiser–you must have seen Pacific Heights?

Pacific Heights? Oh, yeah. I wrote the screenplay.

[Anonymous]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

Allan, which is why I would prefer to buy a brand new house over a repo or resell. Of course, the repo is the bigger risk.

The low prices on repos affect comps and make everything else go down, even the price of new homes, right? So, of course, that will benefit me when I buy new.

Submitted by Ricechex on January 3, 2008 – 8:09pm.
SD Appraiser–you must have seen Pacific Heights?

Pacific Heights? Oh, yeah. I wrote the screenplay.

[Anonymous]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

Allan, which is why I would prefer to buy a brand new house over a repo or resell. Of course, the repo is the bigger risk.

The low prices on repos affect comps and make everything else go down, even the price of new homes, right? So, of course, that will benefit me when I buy new.

Submitted by Ricechex on January 3, 2008 – 8:09pm.
SD Appraiser–you must have seen Pacific Heights?

Pacific Heights? Oh, yeah. I wrote the screenplay.

[Allan from Fallbrook]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

We had a foreclosure on our street that the new owners bought from the bank. I spoke with the wife and she said the outgoing owners had blitzed the place prior to eviction. Broken windows, torn up carpet, paint splashed on the walls, etc. When she spoke to the rep at the bank, he told her he had spent a grand total of 15 minutes at the house, because he had over a dozen other houses to look at that day. We’re in Fallbrook, and he was handling Fallbrook, Vista, part of Oceanside, Temecula, Murrieta and Menifee. One guy.

What you see is truly what you get.

[Allan from Fallbrook]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

We had a foreclosure on our street that the new owners bought from the bank. I spoke with the wife and she said the outgoing owners had blitzed the place prior to eviction. Broken windows, torn up carpet, paint splashed on the walls, etc. When she spoke to the rep at the bank, he told her he had spent a grand total of 15 minutes at the house, because he had over a dozen other houses to look at that day. We’re in Fallbrook, and he was handling Fallbrook, Vista, part of Oceanside, Temecula, Murrieta and Menifee. One guy.

What you see is truly what you get.

[Allan from Fallbrook]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

We had a foreclosure on our street that the new owners bought from the bank. I spoke with the wife and she said the outgoing owners had blitzed the place prior to eviction. Broken windows, torn up carpet, paint splashed on the walls, etc. When she spoke to the rep at the bank, he told her he had spent a grand total of 15 minutes at the house, because he had over a dozen other houses to look at that day. We’re in Fallbrook, and he was handling Fallbrook, Vista, part of Oceanside, Temecula, Murrieta and Menifee. One guy.

What you see is truly what you get.

[Allan from Fallbrook]

marion: Your concerns are very legitimate. The other aspect to consider with bank REOs is this: The banks are literally being inundated with foreclosures right now, and simply don’t have the time to assess the status of each house thoroughly.

We had a foreclosure on our street that the new owners bought from the bank. I spoke with the wife and she said the outgoing owners had blitzed the place prior to eviction. Broken windows, torn up carpet, paint splashed on the walls, etc. When she spoke to the rep at the bank, he told her he had spent a grand total of 15 minutes at the house, because he had over a dozen other houses to look at that day. We’re in Fallbrook, and he was handling Fallbrook, Vista, part of Oceanside, Temecula, Murrieta and Menifee. One guy.

What you see is truly what you get.

[Anonymous]

See the trashing thing is what I’m afraid of when considering a repo. I mean, what if the previous owners poured concrete down sinks or did some other low down stuff to the house that you have to fine using a fine tooth comb. Do people do this a lot? I mean if they wanted to be sneaky, couldn’t they do some stuff you may not find for months? Like maybe urinating on closet walls or something? Not trying to be funny, but it gives me the creeps. This is the same rationale I have for wanting a brand new home: I won’t be buying anyone’s problems. Does anybody else have the same concerns that I do?

[Anonymous]

See the trashing thing is what I’m afraid of when considering a repo. I mean, what if the previous owners poured concrete down sinks or did some other low down stuff to the house that you have to fine using a fine tooth comb. Do people do this a lot? I mean if they wanted to be sneaky, couldn’t they do some stuff you may not find for months? Like maybe urinating on closet walls or something? Not trying to be funny, but it gives me the creeps. This is the same rationale I have for wanting a brand new home: I won’t be buying anyone’s problems. Does anybody else have the same concerns that I do?

[Anonymous]

See the trashing thing is what I’m afraid of when considering a repo. I mean, what if the previous owners poured concrete down sinks or did some other low down stuff to the house that you have to fine using a fine tooth comb. Do people do this a lot? I mean if they wanted to be sneaky, couldn’t they do some stuff you may not find for months? Like maybe urinating on closet walls or something? Not trying to be funny, but it gives me the creeps. This is the same rationale I have for wanting a brand new home: I won’t be buying anyone’s problems. Does anybody else have the same concerns that I do?

[Anonymous]

See the trashing thing is what I’m afraid of when considering a repo. I mean, what if the previous owners poured concrete down sinks or did some other low down stuff to the house that you have to fine using a fine tooth comb. Do people do this a lot? I mean if they wanted to be sneaky, couldn’t they do some stuff you may not find for months? Like maybe urinating on closet walls or something? Not trying to be funny, but it gives me the creeps. This is the same rationale I have for wanting a brand new home: I won’t be buying anyone’s problems. Does anybody else have the same concerns that I do?

[temeculaguy]

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.

[temeculaguy]

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.

[temeculaguy]

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.

[temeculaguy]

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.

[nostradamus]

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.

[nostradamus]

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.

[nostradamus]

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.

[nostradamus]

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.

[SD Realtor]

It varies. If the home is a resale and it is not an REO then there is no way the sellers are absolved from all disclosure duties. True they may not agree to any request for repairs you may make as that is a right they have but you absolutely have a right to make that request as well.

Now for probate or trust sales it may be different. Say the owner dies and a relative is in charge of executing the trust so that the property is sold. Well the relative never lived in the home so there could be some exemptions from disclosure that the listing agent will ask your agent to pass on to you. As far as “as is” goes again, you have the right to due your diligence and make a request for repairs and they have the right to say yes, no, or compromise.

As far as REO or Bank Owned properties go these are most always not just an AS IS sale but you will be asked to sign pretty comprehensive documentation releasing the lender from liability of ANY AND ALL types with the exception of a clear title. Similarly you are entitled to request repairs it is 100% likely that the lender will say negative hit the road.

Regardless of the age of the home, whether it is an REO or normal resale, you should always perform a comprehensive due diligence whether you intend to request repairs or not. If you intend to buy an REO to save money then assume there will be work that needs to be done. In some cases substantial work so that is a better reason to really get strong due diligence.

SD Realtor

[sdappraiser]

I’ve heard stories where landlords release a few little feeder mice into a whiney tenant’s garage in an attempt to get the PITA tenant to move out. Crazy.

[Ricechex]

SD Appraiser–you must have seen Pacific Heights?

[Ricechex]

SD Appraiser–you must have seen Pacific Heights?

[Ricechex]

SD Appraiser–you must have seen Pacific Heights?

[Ricechex]

SD Appraiser–you must have seen Pacific Heights?

[Ricechex]

SD Appraiser–you must have seen Pacific Heights?

[sdappraiser]

I’ve heard stories where landlords release a few little feeder mice into a whiney tenant’s garage in an attempt to get the PITA tenant to move out. Crazy.

[sdappraiser]

I’ve heard stories where landlords release a few little feeder mice into a whiney tenant’s garage in an attempt to get the PITA tenant to move out. Crazy.

[sdappraiser]

I’ve heard stories where landlords release a few little feeder mice into a whiney tenant’s garage in an attempt to get the PITA tenant to move out. Crazy.

[sdappraiser]

I’ve heard stories where landlords release a few little feeder mice into a whiney tenant’s garage in an attempt to get the PITA tenant to move out. Crazy.

[SD Realtor]

It varies. If the home is a resale and it is not an REO then there is no way the sellers are absolved from all disclosure duties. True they may not agree to any request for repairs you may make as that is a right they have but you absolutely have a right to make that request as well.

Now for probate or trust sales it may be different. Say the owner dies and a relative is in charge of executing the trust so that the property is sold. Well the relative never lived in the home so there could be some exemptions from disclosure that the listing agent will ask your agent to pass on to you. As far as “as is” goes again, you have the right to due your diligence and make a request for repairs and they have the right to say yes, no, or compromise.

As far as REO or Bank Owned properties go these are most always not just an AS IS sale but you will be asked to sign pretty comprehensive documentation releasing the lender from liability of ANY AND ALL types with the exception of a clear title. Similarly you are entitled to request repairs it is 100% likely that the lender will say negative hit the road.

Regardless of the age of the home, whether it is an REO or normal resale, you should always perform a comprehensive due diligence whether you intend to request repairs or not. If you intend to buy an REO to save money then assume there will be work that needs to be done. In some cases substantial work so that is a better reason to really get strong due diligence.

SD Realtor

[SD Realtor]

It varies. If the home is a resale and it is not an REO then there is no way the sellers are absolved from all disclosure duties. True they may not agree to any request for repairs you may make as that is a right they have but you absolutely have a right to make that request as well.

Now for probate or trust sales it may be different. Say the owner dies and a relative is in charge of executing the trust so that the property is sold. Well the relative never lived in the home so there could be some exemptions from disclosure that the listing agent will ask your agent to pass on to you. As far as “as is” goes again, you have the right to due your diligence and make a request for repairs and they have the right to say yes, no, or compromise.

As far as REO or Bank Owned properties go these are most always not just an AS IS sale but you will be asked to sign pretty comprehensive documentation releasing the lender from liability of ANY AND ALL types with the exception of a clear title. Similarly you are entitled to request repairs it is 100% likely that the lender will say negative hit the road.

Regardless of the age of the home, whether it is an REO or normal resale, you should always perform a comprehensive due diligence whether you intend to request repairs or not. If you intend to buy an REO to save money then assume there will be work that needs to be done. In some cases substantial work so that is a better reason to really get strong due diligence.

SD Realtor

[SD Realtor]

It varies. If the home is a resale and it is not an REO then there is no way the sellers are absolved from all disclosure duties. True they may not agree to any request for repairs you may make as that is a right they have but you absolutely have a right to make that request as well.

Now for probate or trust sales it may be different. Say the owner dies and a relative is in charge of executing the trust so that the property is sold. Well the relative never lived in the home so there could be some exemptions from disclosure that the listing agent will ask your agent to pass on to you. As far as “as is” goes again, you have the right to due your diligence and make a request for repairs and they have the right to say yes, no, or compromise.

As far as REO or Bank Owned properties go these are most always not just an AS IS sale but you will be asked to sign pretty comprehensive documentation releasing the lender from liability of ANY AND ALL types with the exception of a clear title. Similarly you are entitled to request repairs it is 100% likely that the lender will say negative hit the road.

Regardless of the age of the home, whether it is an REO or normal resale, you should always perform a comprehensive due diligence whether you intend to request repairs or not. If you intend to buy an REO to save money then assume there will be work that needs to be done. In some cases substantial work so that is a better reason to really get strong due diligence.

SD Realtor

[SD Realtor]

It varies. If the home is a resale and it is not an REO then there is no way the sellers are absolved from all disclosure duties. True they may not agree to any request for repairs you may make as that is a right they have but you absolutely have a right to make that request as well.

Now for probate or trust sales it may be different. Say the owner dies and a relative is in charge of executing the trust so that the property is sold. Well the relative never lived in the home so there could be some exemptions from disclosure that the listing agent will ask your agent to pass on to you. As far as “as is” goes again, you have the right to due your diligence and make a request for repairs and they have the right to say yes, no, or compromise.

As far as REO or Bank Owned properties go these are most always not just an AS IS sale but you will be asked to sign pretty comprehensive documentation releasing the lender from liability of ANY AND ALL types with the exception of a clear title. Similarly you are entitled to request repairs it is 100% likely that the lender will say negative hit the road.

Regardless of the age of the home, whether it is an REO or normal resale, you should always perform a comprehensive due diligence whether you intend to request repairs or not. If you intend to buy an REO to save money then assume there will be work that needs to be done. In some cases substantial work so that is a better reason to really get strong due diligence.

SD Realtor

[Author]

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