Question Details

theBIGstep, Home Buyer in Prince William County,...

Foreclosure/Radon Test very high We recently had a radon test done that was well over 6. The property is a

Asked by theBIGstep, Prince William County, VA Sat Feb 28, 2009

foreclosure and the listing agent tries to tell us its as is...we have not asked for any additional repairs after the home inspection (regarding mold etc...previous post) and have asked for radon remediation. we have a buyers agent who is asking the listing agent but has told us not to get our hopes up that the bank will cover it. If this was an arms legnth transactionn the seller would have to remdiate to sell so then why does it appear the bank above the law and is defaulting to as is means anything. This is a heath issue....not cosmetic....thoughts please!

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The seller is not required by law to remediate. I recently had a transaction where the radon was high, and the seller refused to address it. My buyers went ahead with the sale, and remediated it themselves. I can't see a bank addressing it, they're losing money already. Sorry!
0 votes Thank Flag Link Sat Feb 28, 2009
"As is" means just that "as is". The benefit of perhaps getting a much better price by buying a foreclosed property comes with alot of risk and frustration. There's definitely a trade off when buying from a bank versus buying owner occupied.
Speak with your agent about other properties that might be safer. Foreclosures are not always the deal that they are made out to be. Perhaps there is a way that you can cancel this contract and move on. Good luck.
0 votes Thank Flag Link Sat Feb 28, 2009
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