If you are purchasing a home, and you find yourself asking if you need an attorney, or if there are any risks involved.......then that is precisely the reason that you need an attorney or real estate professional to handle the transaction for you.
I'm not trying to be funny - It's one of the biggest investments you'll ever make. The lender most likely has a team of real estate agents and attorneys protecting their best interests - and you should as well.
IÂ urge you to do what you feel is best. I know that some of the banks addendum's can at many times seem very intimidating with the advanced verbiage as well as the strict orders they cast upon the buyers. In most cases the bottom line is that the bank wants to make it very clear to you that you understand they will not be held accountable for anything.
Besides that, make sure you seek out a Realtor who is SFR certified. They will have the knowledge and experience in dealing with the banks and routines of Foreclosures and Short Sales. For example, I myself am SFR certified and have dealt with many bank owned properties and they are not as "scary" as people portray them to be. Also on a side note, remember that an "AS IS"Â contract does not always mean As IS. Many times it comes right down to negotiating. Terms and conditions can be worked into the deal if it is within reason to contract. I have had banks sign addendum's to treat termites, fix a pool, price reductions, repairs of internal and external components of the home, replace an entire pool pump system, and even at one time I got one bank toÂ buy back our inspection report for defective drywall after weÂ backed out of the deal. That last one is very rare to make happen, but it can be done.Â
Again it all comes down to you "the buyer" being comfortable with the course of action you will take along with an experienced agent to back you up and keep things running smooth along the way.Â
Oh and By the way, I would like to recommend a phenomenal real estate attorney here in town. His Name is... Michael Rooney and you can reach him at 306 East Olympia Avenue Punta Gorda, FL 33950Â
(941) 639-2591Â is the telephone number for his office.Â
Thanks again for asking your question to the community. If you need further assistance or just have a question feel free to reach out.
Tammy Hayes, Realtor
Green Lion Realty