how can you tell what items need to be fixed on a short sale or as is home????What if the home looks fine?

Asked by jodena.c, Lake Arrowhead, CA Mon Aug 6, 2012

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Carolyn Fent…, , 07825
Wed Mar 27, 2013
Get a home inspection, septic inspection (if necessary), ask if there were any underground oil tanks and if there are ask for a "no further action" letter. Also ask the home inspector if they cover insect inspection, fireplace - since it is a short sale the owners might not have any money for the water inspection. I would also contact a SFR, short sale and foreclosure resource, Real Estate Agent and hire a real estate attorney that is well versed in short sales (an attorney is strongly suggested in my area). Good luck in your search!
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Gina Zachares, , Succasunna, NJ
Wed Aug 8, 2012
A thorough home inspection and getting a home warranty would be the best way to go.
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Laquita Baez, , New Jersey
Tue Aug 7, 2012
Having a thorough home inspection done would be your best bet
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Helene Jeane…, Agent, Metuchen, NJ
Tue Aug 7, 2012
Suzanne's advice is right on target. Home inspectors miss things, visual inspection miss things, seller disclosures are sometimes spotty, and for everything else, there's Home Warranty. Your agent should be able to provide you with the application.
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Suzanne MacD…, Agent, Morristown, NJ
Tue Aug 7, 2012
You are going to do a home inspection before you purchase the home, right? That will give you an excellent idea what needs to be fixed. The other thing is, look very carefully at the seller's disclosures. It should tell you which items are reaching the end of their natural life so that you can expect to have to fix or replace those items in relatively short order.

The other thing you could consider is a home warranty. I doubt the owner would pay for it, but sometimes you can get the bank to do it. And even if you can't get either one to pay it may be worthwhile to pay for it yourself. A home warranty insures all the major systems,. including appliances, for the home for a period of one year. If anything breaks down you only have to pay the deductible. It's also usually renewable at the end of the first year. Talk to your realtor and see what they think. I always recommend a home warranty because they are so cost effective and they eliminate an awful lot of home inspection issues since the items are covered under the warranty.
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Shirley Cheng, Agent, San Jose, CA
Mon Aug 6, 2012
I would hire a inspector to go in and do an inspection report for you. Thats the only way you will know if there is anything wrong with the property. Make sure that you want to put an offer in on this property before spending the money on it.
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