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Short sale property was not winterized properly. Will bank fix this ever if its as is?

our offer has been accepted on a short sale but when we went to get the house inspected the house was not winterized properly. Will Bank of America pay for the repairs to the house or should we just absorb the cost of repairs and go forward anyway.
  • June 22 2013 - Bethlehem Township
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Answers (6)

Your bargaining power is limited as the sale is "as is", meaning that the inspection is for buyers knowledge only.
Several questions need to be addressed here.
Is the house worth the trouble?
Do you have the money, time and patience to fix?
Can you finance with the 203k loan?
Will you continue with the purchase if BofA refuses to give seller paid concessions?
To answer your new questions, yes the bank will get irritated as they have a bottom line to protect. Yes, the bank can cancel your offer and wait for another offer.





  • June 22 2013
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Profile picture for user7613092
The property is listed "as is" however our lender appraiser did not pass the home as the water was pouring through the ceiling of the living room. Bank of America have been informed that the house has leaks due to late winterization. So I have two further questions, will Bank of America be irritated if we ask them for a credit to either repair it ourselves or get them to repair it. And can they cancel the acceptance of our offer and just wait for a cash buyer. I guess we are trying to work out what our bargaining power is. properly
  • June 22 2013
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What specifically was not done properly and what was damaged in the process? If the plumbing and HVAC is not operable or if the home has evidence of moisture damage, your lender may not opt to write the loan (unless you go with a 203k loan).

Often bank owned homes are sold 'as is'. But I have seen instances where a bank has replaced broken toilets (frozen), split radiators, a damaged boiler and split pipes in order to sell the home. Needless to say they took a huge hit on their bottom line.
  • June 22 2013
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Profile picture for JoshBarnettREIB
Your Realtor should have discussed this prior with you.  Ask your Realtor for their advise as they will have a better feel for your transaction and the Bank's willingness to adjust what has already been agreed upon.  
  • June 22 2013
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Is the home sold "as is?" If yes, the fix is on you. If not, you can ask for the repairs to be done prior to closing, or you can request to change the structure of your offer by having the seller give you money back at closing.
The bank can answer yes, no or negotiate somwhere in between.

Best of luck to you.



  • June 22 2013
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Profile picture for Outer Banks N C
I assume you know there are repairs needed and not just assuming there might be. The question I have is will your lender allow the sale with repairs needed. This usually occurs when an appraiser flags problems, like water off because of leaks, or toilets inoperable. These can sometimes be catch 22's where the bank won't fix them and your new lender requires it be done.

If you can try to reduce your offer by the amount required to make the repairs and see if they will go along with that.
  • June 22 2013
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