Just as an example HUD homes allow inspection contingencies for owner occupants, but not for investor offers. I think this is because they think owner occupants need to be protected from making an expensive mistake, whereas aninvestors wouldknow enough to figure the cost of repairs and factor them into the offer.
have had the property de winterized so thata full inspection can be performed.
The REO's we Air Max Thea White Black Swoosh target the only offers that would have a chance being accepted are
Cash with no contingency.
The bank is not allowing any inspections and ALSO is not allowing prospective buyers to turn on any utilities until after the sale of the Nike Air Max 2015 Mens Total Black Wolf Gray Silver
pull the trigger. The banks I've dealt with haveallowed a due diligence period, meaning do whatever you'd like during that time, including an inspection, but you have to decide during that period if you're going to move forward or not. If that period expires, you're all in and cannot back out because of an inspection. Some will say you can do an inspection but cannot turn on the water. Others Womens Nike Air Max Thea Ultra
My initial feeling was that this is because there is something terribly wrong with water pipes, or some kind of other issue that I'm not seeing. As my agent explained (and I trust her. she stands to gain very little in this whole interaction) the bank wants the place sold. They (bank) don't know if the property has been winterized, they don't necessarily know much about the property at all. What they do know is that if an inspector DOES find something, they would have to disclose it for 6 months. If there was an issue with the utilities they would then have to disclose that as well to potential buyers. My agent also explained that the house is so cheap they have the leverage to do this. if it was 165k or something, they probably would never sell it with that stipulation. For what its worth, the electric is still on and fine.
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Not uncommon really. Whether you do this on your own or hire someone is up to you.
I found a property that can make great money as a rental. The house appears to need mostly cosmetic TLC and some updating.
When we buy property, we don care what they look like or anything because we know what we getting into because we shop for all the same property and know what to expect. Of course, there is always something that comes up we didn anticipate, but that why we pay so dirt cheap for the properties because their sold as is, where is. My point is, hopefully your bid is cheap enough that whatever comes your way you can handle and the numbers still make sense. It sounds like you seen it before and your familiar, so just Nike Air Max Thea Navy Blue
The property is bank owned as is being sold as is. The bank wanted best and final offers from all parties 3 days ago and it turns out my offer wins. However, in my offer I stipulated that the offer was contingent on an inspection that was satisfactory.
I guess my question is what would you do in this situation? No inspection / utilities check seems like a walk away situation, but I understand that on very low cost properties it's semi common for banks to sell as is and mean it. My initial thought in this, without reading anyone else opinion is that you should be only purchasing property in this manor if you have some inside knowledge of this particular area. What I mean by that is, hopefully you have either purchased property in this very exact area, know people that have, are familiar with the quality of construction, perhaps the association if it applies, etc. because of the whole as is scenario.
Here's the issue.
bank owned property won't allow inspe
Now the house is CHEAP. I've been in it 3 times, my father in law twice (handyman), and a contractor today will be there just to give us a general idea of what issues he could see in the house.
Never heard of a bank allowing someone to turn on the utilities.
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