This post is a follow up to my previous post on "AS IS" - What does that really mean?". One of the individuals who commented on the post said that he lets Buyers in to the AS IS home to make repairs if it's necessary for financing.
A very common thing that happens: the Seller won't do repairs - but repairs need to be made for financing. What do you do?
You let the Buyers go in to the home and make the repairs that are needed! Solves the problem right?
It does - if you've asked for permission. Otherwise, it's a criminal act. Here is the simple way to protect yourself and your Buyers:
Get approval in writing to make specific repairs and make sure it is signed by the Seller BEFORE your Buyer enters the home.
Technically, it is against the law to allow a Buyer to make repairs without the Seller knowing the buyer is in "their" home. More often than not, it's no problem. But you must plan for worst case such as a pipe bursting and flooding the house while making a plumbing repair, or part of the roof falling in while patching a leak, etc.
Just remember protect, protect, protect!
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