Mar 13, 2018
Buying a "As-Is" Distressed Property That Needs Repairs?
Buying a “As-Is” Distressed Property That Needs Repairs?
So you found a home that you just have to have, but it is distressed and in need of repairs. The issue you are having is that it is a REO (real estate owned) bank or government owned (pre-foreclosure or foreclosed) property and they are firm about what they will and will not cover. In many cases the lien(s) on the property outweigh the value of the home and they are already losing.
Normally,…
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