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DO you have photos of this place

What is expected when buying a foreclosure, and whar are the risks?
  • Question refers to 735 NW Cedar Ave, Cedaredge, CO 81413
  • January 13 2010
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Answers (1)

No seller's property disclosure is provided by the bank. This is usual practice because the bank has never livid in the house. Sometimes expenses associated with inspection, like getting the utilities turned on is the responsibility of the buyer. This is usually the case with HUD homes. An inspection is important, because no party has a history on the house. There is always a bank addendum to the state contract that is involved in the sale of a bank owned house. The addendum pretty much states the bank is selling the house as is and won't be doing any post closing repairs should a repair issue come up.

I hope this helps you.

  • December 29 2011
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