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You are certainly allowed an inspection. Your Realtor needs to make sure that there is either an inspection contingency period, or, as here in GA, a due diligence period. As-Is just means that they are not going to make any repairs. However, as as been written in previous responses, you can sometimes get repairs. You need to make sure that in any offer you have an inspection or due diligence period. The majority of REO's that I have dealt with do provide for a due diligence period in their special contracts.
You are certainly allowed an inspection. Your Realtor needs to make sure that there is either an inspection contingency period, or, as here in GA, a due diligence period. As-Is just means that they are not going to make any repairs. However, as as been written in previous responses, you can sometimes get repairs. You need to make sure that in any offer you have an inspection or due diligence period. The majority of REO's that I have dealt with do provide for a due diligence period in their special contracts.
I was told by the Realtor there will be a due diligence period in the contract that will be sent back from the seller. But I haven't seen it. Don't know for sure there will be one. Don't know how its worded. Don't know if it gives enough time for an inspection. and don't know what the back out conditions are. So I want my own in the offer. Is that so troublesome? The Realtor seams to think so.
Having started the process with this Realtor, I am under the impression that I cant just eject. If I want to pursue this home I'm stuck with this Realtor. True or false.
i don't understand why you people want to dispute a property that is sold "as is". It's sold the way it is, the way you see it, the way it smells, the way it looks, the way your mother-in-law hates it. In other words, whoever owns the property put it up for sale "as is". If you don't want it then so be it. But the darn property is sold as is.
i don't understand why you people want to dispute a property that is sold "as is". It's sold the way it is, the way you see it, the way it smells, the way it looks, the way your mother-in-law hates it. In other words, whoever owns the property put it up for sale "as is". If you don't want it then so be it. But the darn property is sold as is.
Inspections are not about disputing, they are about knowing what you are getting yourself into. The inspector may find things that the buyer did not see or does not have the knowledge to recognize as potential expensive repairs or safety/health concerns. Buyers should always get an inspection. Especially on an "As Is" property since the burden of repair will fall on the buyer.
i don't understand why you people want to dispute a property that is sold "as is". It's sold the way it is, the way you see it, the way it smells, the way it looks, the way your mother-in-law hates it. In other words, whoever owns the property put it up for sale "as is". If you don't want it then so be it. But the darn property is sold as is.
When you buy a property that is sold "as-is" you want to find out what the "As" is. While not quite sight-unseen, an inspector will be able to point out conditions with the property that the buyer and agent may be unable to identify on their own. Kind of like getting your trusted mechanic to help check out a used car for you before purchasing. "As-is" does not mean that you give up your rights to fully inspect the property, it just means that the seller will not warrant nor offer any repairs on the property if something is found to be less than acceptable, like a failing hvac system.
I was told by the Realtor there will be a due diligence period in the contract that will be sent back from the seller. But I haven't seen it. Don't know for sure there will be one. Don't know how its worded. Don't know if it gives enough time for an inspection. and don't know what the back out conditions are. So I want my own in the offer. Is that so troublesome? The Realtor seams to think so.
Having started the process with this Realtor, I am under the impression that I cant just eject. If I want to pursue this home I'm stuck with this Realtor. True or false.
The due diligence period will more than likely be at least 5 days, which should usually be time to get both a home inspection and an infestation inspection completed. Unless of course the signed agreement comes back Wednesday this week. It still does not hurt to request a 10 day due diligence period.
I was told by the Realtor there will be a due diligence period in the contract that will be sent back from the seller. But I haven't seen it. Don't know for sure there will be one. Don't know how its worded. Don't know if it gives enough time for an inspection. and don't know what the back out conditions are. So I want my own in the offer. Is that so troublesome? The Realtor seams to think so.
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Your OP said your Realtor told you there will be no inspection, now you say he told you there will be a due diligence period (which includes the inspection). Were you just confused about the terms "inspection" and "due diligence"? Most bank addenda will include time to inspect, but you need to be careful to watch the dates so time doesn't run out.
You can put anything you want in your offer, but the contract addendum the bank will send back will override almost everything. Just be sure you review it carefully when you get it. Perhaps have an attorney review with you if you don't understand it.
Unfortunately, working with banks is not easy and can be very confusing. That is the price you pay to get a good deal. If you wanted a normal sale, then you should buy from a private owner, not a bank.
Inspections are not about disputing, they are about knowing what you are getting yourself into. The inspector may find things that the buyer did not see or does not have the knowledge to recognize as potential expensive repairs or safety/health concerns. Buyers should always get an inspection. Especially on an "As Is" property since the burden of repair will fall on the buyer.
After the full inspection on a bank-owned property, if you find major issues is it possible to adjust in the formal Purchase Agreement the amount you are offering to pay?
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