Kelly,

Bill is right on both points and Dusty is right, you should get a broker or agent to represent you.

I am a local Broker and have had several Bank Owned listings in Encinitas. Most if not all banks will list the properties "AS IS". That does not mean that as the buyer you can not ask for termite or other repairs in your offer. From my experience, especially of the bank knows that there is termite damage, they will approve section 1 work to be completed at their cost. If you’re not sure what section 1 work is, it is the presence of actual damage or infestation of termites or fungus. Section 2 is conditions conducive to termites or damage. A good example of section 2 conditions is dirt piled up next to a home touching wood siding.

Will making an offer with asking for a termite report be a weaker offer, it depends on many factors including the offering price and terms. I always discuss this with my clients when they are making an offer.

So now is my pitch…..

If you would like some more questions answered or more information or guidance, feel free to contact me anytime. There is also a really good completely free search tool for bank owned / foreclosures on my website. Unlike some of the ones that charge you $$ to get details, this one is free, giving you information including address, pictures and actual listing price and it also will only show you properties that are actually listed for sale in the MLS, not a bunch of properties with NODs filed

Jay Gedanken
Broker Associate
PineappleHut Realty
858-605-5839
jay@pineapplehut.com

Dusty,

That's really funny!!
"I can help or you wil soon have a bunch of other Realtors chiming in on the comments here giving you their " pitch " and suggestions"

Nice pitch.

Kelly, When you make your offer, you can put in it for the seller to make section 1 repairs or anything else for that manner

Hi Kelly,
Most Banks will not make any repairs and are sold " as-is", however, it is negotiable though. Most banks realize that it would have to be fixed, regardless. Also, it is a good thing to know what type of loan you will be using because some loans will not be approved with items that need serious repairs, such as a major problem like termites, ie, FHA or VA loans.

It seems like you do not have an agent. Need an Encinitas Local Realtor? Well, I can help or you wil soon have a bunch of other Realtors chiming in on the comments here giving you their " pitch " and suggestions.

If you need help finding bargains in Encinitas, I'd love to help.

Dusty
760 207 7245
Century 21 United Brokers
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