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SD Realtor
Participant“Anybody have facts or info to substantiate that statement?”
Facts?
Stever this is a blog and you are asking for facts?
heheheheh….
As you can see there have been no satisfactory answers. I would not put any stock in correlating banks holding properties to stats put out by Realtytrac as well.
What I do see is banks being more favorable to offers on REOs and short sales. Alternately I do see that those pipes are still indeed full, so to speak. They flow a bit more efficiently now but there is plenty of supply so they have a big pool to drain out.
I am of the camp that in some areas indeed the banks may not be marketing all of the properties they have for sale but I am less and less of the opinion that they have pool of billions of dollars in stashed inventory.
SD Realtor
Participant“Anybody have facts or info to substantiate that statement?”
Facts?
Stever this is a blog and you are asking for facts?
heheheheh….
As you can see there have been no satisfactory answers. I would not put any stock in correlating banks holding properties to stats put out by Realtytrac as well.
What I do see is banks being more favorable to offers on REOs and short sales. Alternately I do see that those pipes are still indeed full, so to speak. They flow a bit more efficiently now but there is plenty of supply so they have a big pool to drain out.
I am of the camp that in some areas indeed the banks may not be marketing all of the properties they have for sale but I am less and less of the opinion that they have pool of billions of dollars in stashed inventory.
SD Realtor
Participant“Anybody have facts or info to substantiate that statement?”
Facts?
Stever this is a blog and you are asking for facts?
heheheheh….
As you can see there have been no satisfactory answers. I would not put any stock in correlating banks holding properties to stats put out by Realtytrac as well.
What I do see is banks being more favorable to offers on REOs and short sales. Alternately I do see that those pipes are still indeed full, so to speak. They flow a bit more efficiently now but there is plenty of supply so they have a big pool to drain out.
I am of the camp that in some areas indeed the banks may not be marketing all of the properties they have for sale but I am less and less of the opinion that they have pool of billions of dollars in stashed inventory.
SD Realtor
ParticipantI keep asking mrs SD Realtor to help my company out and be a bimbo realtor for me but she just won’t do it unless it is behind closed doors.
SD Realtor
ParticipantI keep asking mrs SD Realtor to help my company out and be a bimbo realtor for me but she just won’t do it unless it is behind closed doors.
SD Realtor
ParticipantI keep asking mrs SD Realtor to help my company out and be a bimbo realtor for me but she just won’t do it unless it is behind closed doors.
SD Realtor
ParticipantI keep asking mrs SD Realtor to help my company out and be a bimbo realtor for me but she just won’t do it unless it is behind closed doors.
SD Realtor
ParticipantI keep asking mrs SD Realtor to help my company out and be a bimbo realtor for me but she just won’t do it unless it is behind closed doors.
SD Realtor
ParticipantAs usual good post New Renter
SD Realtor
ParticipantAs usual good post New Renter
SD Realtor
ParticipantAs usual good post New Renter
SD Realtor
ParticipantAs usual good post New Renter
SD Realtor
ParticipantAs usual good post New Renter
SD Realtor
ParticipantIt 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
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