ok so your buying a house i know that theres disclosers from the realestate place .what about the bank?
October 282009
I have helped to buy and sell more than 100 bank owned properties in GA, and I have never encountered a bank that would offer any type of disclosure. The simple reason for this is, a disclosure statement relays first-hand knowledge of the property’s condition, and a bank has no first-hand knowledge. Your best bet when making an offer is to ensure you have a clause in your contract allowing you the right to inspect the home and re-negotiate or terminate based on the findings. Always get an inspection, even if there is a disclosure, but especially if there isn’t.
October 28th, 2009 at 11:36 am
Do you mean like lead paint disclosures, seller’s disclosures, etc? Those can only come from someone who has lived in the home. Obviously the bank hasn’t so they can’t disclose things they don’t know about.
However, if you have a buyer’s agent they can check the MLS to see if the owners had the home on the market before being foreclosed and that listing might have disclosures attached to it. This happened to me when I bought my home from a bank.
References :
October 28th, 2009 at 12:04 pm
I have helped to buy and sell more than 100 bank owned properties in GA, and I have never encountered a bank that would offer any type of disclosure. The simple reason for this is, a disclosure statement relays first-hand knowledge of the property’s condition, and a bank has no first-hand knowledge. Your best bet when making an offer is to ensure you have a clause in your contract allowing you the right to inspect the home and re-negotiate or terminate based on the findings. Always get an inspection, even if there is a disclosure, but especially if there isn’t.
References :
I am a Realtor in GA.
October 28th, 2009 at 12:37 pm
The bank has no knowledge of the property, therefore any disclosure would be useless. Make your offer contigent upon approving a home inspection. A good home inspector will give you a detailed report on the property, point out areas of concern and things that are just downright wrong. A good home inspector is worth every penny you pay them.
References :
Oregon Realtor