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#232622 - 06/15/08 03:16 PM Inspections on Foreclosures
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 751
Loc: Florida
This is my first foreclosure & it's "As Is". Do you send copies of the inspection to the company representing the seller (bank)? Who do you send copies to?

Thanks.

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#232627 - 06/15/08 03:53 PM Re: Inspections on Foreclosures [Re: zpcsc]
sybadon Offline
Veteran Member

Registered: 04/11/06
Posts: 631
Loc: Earth
are you the listing agent ?

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#232633 - 06/15/08 05:09 PM Re: Inspections on Foreclosures [Re: sybadon]
DeanaW Offline
Member

Registered: 01/09/08
Posts: 340
Loc: Colorado
What side are you working?

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#232636 - 06/15/08 05:23 PM Re: Inspections on Foreclosures [Re: DeanaW]
UpNorthGal Offline
Veteran Member

Registered: 01/06/08
Posts: 664
Loc: MN
Ya, first we need to know where you are in this situations(selling,listing,buyer??) If I am the listing agent, I never see the copy of the inspection and don't want to..I have instructions for the buyers agent and number 10. is "AS IS;WHERE IS: NO warranties or disclosures, sold as is where is buyer to accept all faults. Property concerns should be
conditional upon a home inspection. Inspections are for the buyers knowledge only; the bank will not negotiate repairs or contribute
concessions for repairs...

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#232640 - 06/15/08 05:34 PM Re: Inspections on Foreclosures [Re: UpNorthGal]
cjmj Offline
Member

Registered: 11/18/05
Posts: 289
I agree with UpNorthGal. The buyer's inspection contingency on a home being sold as-is/where-is, is there for the buyer to perform all due diligence and inspections they deem necessary to determine if there's anything found that they just can't live with. Beyond the inspection period, the buyer is purchasing the home as-is. This is different from most owner occupant sales negotiations where buyer's can use their findings (major issues typically) as a tool to re-negotiate terms with the seller.

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#232641 - 06/15/08 05:44 PM Re: Inspections on Foreclosures [Re: cjmj]
UpNorthGal Offline
Veteran Member

Registered: 01/06/08
Posts: 664
Loc: MN
The thing is, I give out my instructions to every agent that writes a offer, yet when they are done with the inspection I still get questions like"do you think I can add in a new roof to the p.a...NO YOU CANT..uhh some people don't understand as-is..

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#232644 - 06/15/08 05:56 PM Re: Inspections on Foreclosures [Re: UpNorthGal]
TB in TX Offline
Major Contributor

Registered: 08/16/07
Posts: 2813
Loc: X
If I remember her previous posts, she is on the buyers side of a CW deal.

As you can see from the above, I doubt it will make a bit of difference if you send them a copy or not. It's as-is, and that usually means what it says.

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#232765 - 06/16/08 03:47 PM Re: Inspections on Foreclosures [Re: TB in TX]
zpcsc Offline
Veteran Member

Registered: 08/29/05
Posts: 751
Loc: Florida
Ok thanks, I am the buyers agent & she is aware that it's "As Is". I will just keep a copy for our file. The inspection came back good, no major issues.

Thanks again.

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#232783 - 06/16/08 05:03 PM Re: Inspections on Foreclosures [Re: UpNorthGal]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
Originally Posted By: UpNorthGal
The thing is, I give out my instructions to every agent that writes a offer, yet when they are done with the inspection I still get questions like"do you think I can add in a new roof to the p.a...NO YOU CANT..uhh some people don't understand as-is..


What?!? Agents don't read and follow instructions?!? Never!!!

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#232842 - 06/16/08 10:50 PM Re: Inspections on Foreclosures [Re: northtxbroker]
StLbpo's Offline
Member

Registered: 04/13/05
Posts: 372
Loc: missouri
I am shocked that agents can't read

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