What Does This Mean Exactly?
Hi,
Can you give me a little information on the information I have submitted below?
I don't want to make any mistakes on a deal I am trying to do with a realtor.
What does it all mean exactly?
I have an idea, I just want to make sure I am right.
Thank you for your time and patience.
Here is the discription- CORPORATW OWNED 1 FAM HOME BEING SOLD IN `AS IS` CONDITION FOR 210K, NO REPRESENTATION, BUYER
PAYS TRANSFER TAX and STAMPS, SUBMIT ALL OFFERS WITH PROOF OF FUND and REO BANK PRE APPROVAL APPLICATION
i think it means that this is a bank owned propert and they are going to make you pay the title transfer fees etc. Youll need a lender letter and it will be subitted to the bank that owns it for approval. You might consult an agent to help you make this offer
Thank you for your reply
I would concer, it seems to stat that it is owned by the bank,
and that it is being sold AS IS so you are not going to get any disclosure statements as you would if you were buying it from a homeowner
and that you are responsible for certain fees that you would normally split or that the seller would normally pay.
They are also asking for basically a pre-approval letter and the bank probably has an addendum to a basic real estate contract that it also wants signed. You can get that from the listing broker.
Thank you for your reply.