You are here:
- Home
- Real Estate
- Home Buying/Selling
- Buying or Selling a Home
- No Disclosure of Survey on file
Buying or Selling a Home/No Disclosure of Survey on file
Advertisement
Question
Hello!
What does it mean when a foreclosed property states sold as is, no disclosure of survey on file? Buyer to verify all information.
Thanks!
Laurie
DEar Laurie: It means that there are no guarantees or warranties and that the buyer must do due diligence in obtaining home inspections, termite inspections, a survey inspection also that will designate the lot lines. You should find out if, once you have your inspections, you can cancel after a certain period of time and still get your deposit returned to you. Back sales, foreclosures, short sales, and the like, usually have no disclosures for the buyer and all the responsibility of learning about the home and land is up to the buyer. It is not easy, and sometimes you are hit with a big surprise that will cost lot, a lot of money for future repairs which doesn't make the purchase a bargain after all. It is not for the faint of heart. These sales are better suited for a contractor buyer, or an investment buyer who has contact for repair people who have done work for them in the past. You might be better to seek a fair and reasonable purchase from a homeowner!
Related Articles
- Real Estate Market Timing - Secrets for Timing the Real Estate Market
- What is Due Diligence - Due Diligence Definition
- For Sale By Owner Negotiation Tips for FSBOs - Negotiations as a For Sale By Owner
- How to Sell a Home - Personal Finance for Single Mothers
- Getting Buyers to the Closing Table - Being a Real Estate Agent
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Karyn Foley
Expertise
I can answer questions on picking the right agent, marketing properties, contracts, ethics, buyers and sellers responsibilities and fiduciary relationships. I prefer not to answer questions relating to real estate financing.
Experience
I have over 29 years of full time real estate experience in the Southern California area as realtor, assistant manager, education director, and broker. Consistant top producer.
Organizations
Southland Regional Association of Realtors, California Association of Realtors, Calabasas Chamber of Commerce.
Publications
Las Virgenes Enterprise, Calabasas Courier.
Education/Credentials
Bachelor of Science degree, UCLA, licensed real estate broker, graduate realtors institute designation.
Awards and Honors
Trophies and certificates of achievement for real estate production. Training Director, Instructor for the local Board of Realtors, Member of local Board's Grievance Committee. Chamber of Commerce Community Service Award, one of the founders of the City of Calabasas, elected to the first Calabasas City Council, first woman mayor of Calabasas, former Regional Representative to Southern California Association of Governments.
©2012 About.com, a part of The New York Times Company. All rights reserved.