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What Part of This "As Is" Condition Short Sale Don't You Understand?
I provide a handy dandy tip sheet for buyer's agents on my Sacramento short sales, which I attach to MLS. Not everybody understands what it's like to be a Sacramento short sale agent. My tip sheet explains much about the short sale process and how short sales work. One of the items on that list is the fact the home is sold in its "as is" condition. This means the bank will do no repairs and give no credit for condition.
It doesn't matter if the buyer discovers through a home inspection that the AC unit is underutilized or inoperative. No repairs. As is. It doesn't matter if the buyer discovers through a pest inspection that dry rot or termites are present. No repairs, as is.  It also doesn't matter if thugs steal the AC unit, which I've had happen 3 times last year. No repairs, as is. In exchange for the lender's loss, the home is sold "as is."
A short sale is similar to an REO but unlike an REO the bank does not want to see a Request for Repair nor an addendum lowering the price -- because the bank has made it clear through the arm's length ... more

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