You buy foreclosures as-is, where-is. No builder warranties. Many of the foreclosed properties with foundation issues will be purchased by people who are familiar with or have experienced foundation repairs at some point in the past. They don't have the fear of it that others do. They know what it entails, what fees to expect, and know who they want to do the work. The factor that repair into the offer on the home. The bank isn't going to do any repairs to the property. They haven't even visited the property. It is up to the Buyer's agent to inform them of the condition in which they are finding the home as a point of discussion for why they are offering less-than-list.
Ronda Wise Allen, C.P.M., Realtor
C21 Judge Fite Fine Homes & Estates
at The Shops at Starwood