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Rainmaker
529,808
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

That depends on the bank and the deal negotiated between the parties. We just installed a brand new septic for a buyer on one bank-owned property, and the bank paid. On another REO property, septic system failed, and buyer replaced the system as a post-closing matter. AZ requires a septic system be certified, pumped and transferred. It does not require the septic system to be fully operational. However, the buyer's lender will!

Feb 11, 2018 03:45 AM
Rainmaker
253,564
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Depends on the needs of the bank the buyers are using to purchase. Typically, Fannie REOS need the home to qualify for an FHA loan.  The septic has to work in these situations. Once we had a FANNIE REO in which we discovered that the effluent from the home - sold several times over many decades before the foreclosure - was draining into a hole under the driveway. Once discovered, FANNIE had clean up the lot to EPA standards and installed a brand new sand filter - total cost over $60,000 with a home that was worth no more than $150,000 at the time.

Feb 10, 2018 09:18 PM
Ambassador
2,351,818
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I've never dealt with a foreclosure that had a septic - we have very few areas with septic in the Charlotte region.

Feb 10, 2018 08:30 PM
Rainmaker
471,563
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

What Candice A. Donofrio said.

Feb 11, 2018 08:55 AM
Rainmaker
1,323,711
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

I don't think it's the bank it's the municpality. In essence, your sewer sytem is not working is it? In IL we need the county to sign off that it works.

Feb 11, 2018 05:56 AM
Rainmaker
2,353,158
Richard Weeks
Dallas, TX
REALTOR®, Broker

If those repairs are brought to the lenders attention by the appraiser.

Feb 11, 2018 05:43 AM
Ambassador
3,215,033
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

"As Is" takes on an extreme meaning with foreclosures, plan for the worst and be pleasantly surprised at anything that works well after closing.

Feb 10, 2018 10:33 PM
Ambassador
2,584,774
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

It all depends on how many sacrifices you made by using the bank's paperwork...

Feb 10, 2018 10:07 PM
Ambassador
2,665,328
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I have listed and sold hundreds of foreclosures in the past 26 years and never had one that needed a septic repair.  

Feb 10, 2018 09:33 PM
Ambassador
3,721,184
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Foreclosures are sold 'As Is' in most cases.

Feb 10, 2018 08:28 PM
Ambassador
3,491,108
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

The usually only do repairs on those items that are an immediate danger or hazard to the showinglike holes in floors, broken glass, handrails missing, etc.

Feb 10, 2018 08:18 PM
Ambassador
1,926,391
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   They almost always sell "As Is"

   

Feb 10, 2018 07:54 PM
Rainmaker
3,542,678
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Candice A. Donofrio answered you as did Lynnea Miller 

Feb 11, 2018 10:21 AM
Rainmaker
2,270,359
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Many good responses.

Feb 11, 2018 09:32 AM
Rainmaker
4,402,849
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Don't count on it.

Feb 11, 2018 08:40 AM
Rainmaker
2,523,943
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Depends on the bank ... 

Feb 11, 2018 07:58 AM
Rainmaker
4,053,952
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Depends on the bank.

Feb 11, 2018 05:47 AM
Rainmaker
2,536,791
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

In most cases NO. Except if it is a Fannie or Freddie home, they tend to spend money to make repairs. But not all repairs, just some. The ones I have listed they did require a septci inspection. Now.. with most other banks, the homes are listed and sold AS IS. I have many cash buyers who inspect it on their own prior to making an offer. Nearly all sales are AS IS with no contingencies so buyer must use caution. 

Feb 11, 2018 05:36 AM
Rainmaker
557,225
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Many times the bank will put that responsibility on the on purchaser

Feb 11, 2018 05:01 AM
Ambassador
1,886,956
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

As with many things, the answer is "depends" (no pun intended!)

Feb 11, 2018 04:48 AM
Rainmaker
2,738,869
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Candice A. Donofrio nailed this one!

Feb 11, 2018 04:07 AM
Rainmaker
821,682
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Banks want out of foreclosures without any expense.  Buyer beware!

Feb 10, 2018 08:39 PM
Rainer
36,816
Steve Penner
Royal LePage / Moneyledgers Software - Winnipeg, MB
REALTOR / Owner of Moneyledgers

in my market we sell them "as is"

Feb 10, 2018 08:36 PM
Rainmaker
645,199
Pete Xavier with X Group Real Estate Advocates
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

NO

Feb 10, 2018 08:22 PM
Rainmaker
3,346,080
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have not run across this issue working primarily in the City.

Feb 13, 2018 07:56 AM
Rainmaker
1,007,212
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Most, if not all, foreclosures are as-is.

Feb 11, 2018 07:51 PM
Rainmaker
3,436,057
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Most times the buyer agrees to the eptic as is and deals with the governing authority in upgrading

Feb 11, 2018 06:00 PM
Rainer
2,415
Harriet Nash
Key Realty - Cleveland, OH
Trusted Real Estate Advisor

Most foreclosures are "As-Is" and the banks do not require any repairs.  If the county the property is located in requires a septic certification then the buyer my need to establish an escrow account to cover repair/replacement costs.

Feb 11, 2018 11:44 AM
Rainmaker
3,825,159
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Depends 

Feb 11, 2018 10:19 AM
Rainmaker
4,073,525
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I've never dealt with a foreclosure.... but I'd guess that it's the bank that calls the shots!!!!

Feb 11, 2018 10:07 AM
Rainmaker
812,843
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

As is. It is the buyer problem even homes are redtagged.

Feb 11, 2018 08:58 AM
Rainmaker
747,044
Thomas J. Nelson, Realtor,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

Not from the buyers' perspective; we've seen some major rehabs.

Feb 11, 2018 08:46 AM
Rainmaker
493,251
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Seems like a regional issue. I can imagine a community that has lots of homes with septic tanks might have rules regarding the condition of a septic system upon transfer of ownership. Very few properties with septic tanks in my market.

Feb 11, 2018 08:15 AM
Rainmaker
2,480,514
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Not an issue where I am located!

Feb 11, 2018 06:44 AM
Rainmaker
2,225,641
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The banks tend to come from the land of AS-IS but all is negotiable

Feb 11, 2018 06:38 AM
Ambassador
1,307,376
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not in my neck of the woods.

Feb 11, 2018 05:07 AM
Rainmaker
2,220,164
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

That depends...

Feb 11, 2018 04:51 AM
Rainmaker
1,661,226
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

many are as is 

Feb 11, 2018 04:40 AM