Welcome to Charlotte Repos
We are Countryside Properties, Inc, a small, 3 generation full service real estate company in Charlotte, NC. Our primary listing base comes from bank and corporate owned homes. See our homepage at www.countrysideprops.com ..
Buying a bank owned home is totally different than purchasing a property from an owner-occupant. This forum is set up to give advice and answer questions.. Your comments and questions are encouraged.
Buying a bank owned home is totally different than purchasing a property from an owner-occupant. This forum is set up to give advice and answer questions.. Your comments and questions are encouraged.
posted by repomaninclt at 8:12 PM
1 Comments:
What does 'AS-IS' mean??
Most corporate sellers that we work with sell properties in their existing conditions with no repairs to be made. On some very rare instances, we have seen the bank allow the buyer a credit for repairs, or termite treatments, but the buyer should be prepared for no concessions at all to be provided from bank or corporate sellers. In addition to the buyer understanding 'AS-IS', it is also very important that the lender used by the buyer know this si the case. We have seen too many times where the buyer of a foreclosed home negotiate an acceptable contract, then after spending upfront fees (credit report, application fee, appraisal fees), it is found that the lender requires repairs or upfits on the home to secure the financing..
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