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

[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.

[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

[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.

[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.

[Author]

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