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REO Repairs? It Never Hurts To Ask

When buying an REO property, the first thing that happens after your offer is accepted is, the bank makes you sign their addendum. The banks addendum often has terms and conditions that supersede the provisions set forth in the C.A.R. contract the original offer was presented on. For example, the bank usually shortens the contingency period from 17 to 10 days. One of the first things you notice as you read the addendum is the bank stating the home is being purchased " As Is ", which is usually stated in a can't … [Read more...]