In a bank owned foreclosure sale, is the Bank required to disclose known issues even when the property is

Asked by 1st time home buyer, Burlington, MA Tue Apr 14, 2009

being sold as is? I have an offer in and was asked by my agent if I have an FHA loan as the listing agent is worried that the home will not meet FHA regulations? That tells me right there that they know that something serious is wrong but rather than saying that, they are just asking what type of loan I have. This makes me nervous, should it? After asking my agent a few times to find out what's wrong, he informed me that it is being sold as is and that he all he knows. Is this typical?

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Sean Dawes, , Philadelphia, PA
Tue Apr 14, 2009
Banks will sell the property as is. I suggest you get a home inspection done to the building to know what you are getting yourself into.

But be know the bank will not fix any issues which arise.

Sean Dawes
Long and Foster Real Estate Inc.
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