Depends on the Bank/ Asset managers you are working with on the seller side. Also it depends on what the issue is, if it is something that will need to be handled to satisfy your lender then the bank may consider it. But this always depends on what the issue is and what Bank/ Asset manager you are working with.

If you have any other questions about Bank Owned Listing or any other aspect of Real Estate don't hesitate to call my office at 623-414-3388 or go to SchexneiderGroup.com

It may depend on the problem. If the problem is a "significant finding" or is a health hazard you may still have the right to cancel the contract.

Without reading your contract, I can't answer but if you are using a buyer's agent, they should be able to help you and in some cases (depending on the wording) they can negotiate on your behalf for the seller to address repairs before closing.

I assume you are referring to an "As-Is" addendum. As Randy says, it depends on the contract and addendum terms. The standard Arizona Association of Realtors (AAR) as-is addendum does not remove inspection rights unless it has been modified to do so. The standard AAR purchase contract allows you an inspection period, usually 10 days, during which you can cancel for any reason. The As-Is Addendum does not override this.

If this is a bank owned home purchase, you will also receive a separate bank addendum that may modify the inspection terms and possibly reduce your inspection time period. Be sure to carefully read and understand this addendum. Your buyer agent (if you are working with one) should be able to guide you.

Hi Jb. If you're still in your '10-day' inspection period you can cancel the contract and walk away.

After the 10-day, it'll be more difficult.

If you are using a buyer's agent in your transaction, then he/she will be able to advise you on what to do.

Hope this helps!

Jim Mitchell
Century 21 All Star, REALTORS
jim.mitchell@century21.com

It depends on what the contract and/or addendum say. Also, what does you Buyer's Agent/Realtor say?