Zillow Advice: Buying Process - making offer subject to interior inspection http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ Zillow Advice | Zillow Real Estate Hello David and welcome to ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ Hello David and welcome to the short sale market!<br/><br/>Basically to buy a short sale: the seller has to be willing and the bank has to be willing and you have to have an agent that understands and is in some level of control over the process. <br/>In more than a few cases the seller is not at all willing to give up their situation where they are no longer paying rent or a mortgage and living for free. They will not make it easy to sell the home and will prevent viewings. Until the seller is resigned to moving they may use the short sale process to keep you in the short sale division up until the closing date and then just refuse to sign the closing papers. You have wasted a lot of time and money.<br/><br/>Regarding making an offer -- it is completely pointless to write "subject to interior inspection" since when you make the offer you are not putting up any money. If this is what the listing agent wants humor him/her by adding that phrase to page 4 item 11D of the CAR form. It is already built into the purchase concept as&nbsp; you have already checked the box 14B1 which provides you with a certain number of days&nbsp; to view the home and do inspections to determine condition. <br/><br/>If the seller signs your offer and won't grant you access to the house he is unlikely to be cooperative in the short sale so beware of the whole deal. What finally happens in these is they get their auction notice and that spurs them into action. Remember you risk nothing by putting in an offer because you have not put up any money. Tue, 13 Mar 2012 19:38:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-03-13T19:38:00Z One more thing to add. All ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ One more thing to add. All contracts are subject to scrutiny and when lawyers get involved your deposit could dwindle quickly.<br/><br/>In the short sale contract (SSA) you technically are obligated to provide a deposit to hold the property in contract for 45 days (this can be changed) while the listing agent works with the bank to arrive at the BPO -- the amount of money the bank wants to close the deal. Some agents take the deposit -- others do not. They do not want the buyer to walk while they are negotiating with the bank if they are GOOD agents working with reputable sellers wanting to do a short sale<br/><br/><br/>Many agents are listing short sales with sellers that are still going through the 4 stage process put into law this last year of trying to keep the home. Short sale is stage 4 before foreclosure. Stages 1-3 can take as long as two years<br/><br/>Do not give any deposit to an agent that 1) does not have a brokers trust account, 2) does not have an office with a broker&nbsp; 3) preferably does not work locally in the area of the short sale Sun, 23 Jun 2013 16:37:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2013-06-23T16:37:00Z Unfortunately&nbsp;we have ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ Unfortunately&nbsp;we have the same issues in S. Florida. Thanks for the information all. Great reads Sun, 23 Jun 2013 15:34:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2013-06-23T15:34:00Z There is no separate CAR ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ There is no separate CAR form for "subject to inspection". It is an empirical expression which means: the offer was made without visiting the property and maybe withdrawn after the visit. The purchase agreement has already provision for that and no other form is required. I frequently do that with "online offer" on my website [hotlink removed by Zillow Moderator]. If the offer is withdrawn, the agent representing the buyer will simply send a cancellation of contract: CAR form CC invoking paragraph &nbsp;14.B.1 Sun, 23 Jun 2013 14:52:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2013-06-23T14:52:00Z Not the first answer like ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ Not the first answer like that. Some apparently feel that if you have question you should contract with an agent first and then ask them. <br/><br/>I feel differently and think that many ask in this forum because they are still trying to find the right agent, want a different point of view or already have an agent that is not a good fit. Tue, 05 Jun 2012 16:09:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-06-05T16:09:00Z David BarrIn this case the ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ David Barr<br/><br/>In this case the OP is a Realtor&reg;, see the light gray <em>Agent</em> tag next to the name.&nbsp; If you click on the profile, you would see that the OP works with Apex Realty in San Jose, CA.&nbsp; I guess sometimes even Realtors&reg; solicit advice on open forums when they are trying to find answers.&nbsp; Is there something wrong with that? Tue, 05 Jun 2012 15:55:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-06-05T15:55:00Z I always am amused when we ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ I always am amused when we offer free advice to someone who has no interest in using an agent, but wants an agent's expertise and advice for free. Tue, 05 Jun 2012 12:41:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-06-05T12:41:00Z Hi,Many would add the "subject ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ Hi,<br/><br/>Many would add the "subject to buyers visual inspection" or similar wording.<br/><br/>All the best,<br/><br/>Arpad<br/><br/><br/> Fri, 18 May 2012 03:49:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-05-18T03:49:00Z Sandy has given a good answer ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ Sandy has given a good answer here, but I wanted to offer a few more tidbits.<br/><br/>First, my experience has been a bit different from Sandy. While short sales will often require an appointment and frequently the sellers are not pleased with the situation, I have not had one where the seller refused to allow access prior to making an offer. After all, in most cases, the seller has had to start the short sale process and are hoping this will limit the downside of a full blown foreclosure. In the cases where sellers are reluctant to sell it is after a long drawn out period where folks have come through the home and none of them have proven to be solid buyers. Maybe even after an offer has failed because the buyers financing has not come through.<br/><br/>I see this far more with homes occupied by a tenant.<br/><br/>The problem I have with these arrangements is that it forces you to assume a great deal and put an offer number out there before seeing the interior condition of the property. If it is as bad as it is likely to be, you may find yourself having to try and get the offer amount reduced. <br/><br/>Keep in mind that you are still totally protected. You have your 14 day windows of inspections to extract yourself from the deal with no harm to you, but I much prefer to make an offer based on a decent walk through of the property.<br/><br/>In the few cases where I come across a listing that wants you to make an offer that is contingent on an interior look, I usually try and push back to get a look inside before making the offer. That works more than half the time. As I mentioned before, when you find yourself in these situations, it might be as a result of previous frustrations from unqualified buyers. Have your agent share your pre-qualifications with the listing agent to let them know you are a serious buyer who is ready and able to buy.<br/><br/>R Wed, 14 Mar 2012 17:20:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-03-14T17:20:00Z When a property is listed ... http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ When a property is listed "subject to inspection", it doesn't necessarily mean that it is a short sale. Often tenant occupied properties are listed "subject to inspection" so that the tenant will not be disturbed with endless showings. When the property is a multi-family residential property, many times you will be able to view only one unit, and the other are "subject to inspection" and will be viewable only after a contract is negotiated. Tue, 13 Mar 2012 20:50:00 GMT http://www.zillow.com/advice-thread/making-offer-subject-to-interior-inspection/435039/ 2012-03-13T20:50:00Z