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Due Diligence or Do the Contract?
Buying an as-is property
Mortgage loan professional and ActiveRain blogger Brent Kluge provides some very good advice for prospective home buyers and their buyer agents.  If you want to be successful with the purchase of an as-is property, you need to understand the options and the odds.
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When you represent a buyer and they are interested in offering on an "As-Is" property, should you do your inspections to figure out what is wrong first, or just make an AS-IS offer?
This is the quandary...
All too often, I hear this question and the answer is... THE BUYER WILL DICTATE.
I would advise you to counsel your buyer that there are two main options: 1.  Do inspections/estimates before making your offer. 2.  Make the offer and contractually, give yourself some time to do your due diligence.
Lets look at some of the PROS / CONS of each: Option 1: Do Inspections/Estimates before making your offer "How can I make an offer on a house when we have no idea what is wrong with it?"  Tough one to answer.  In this environment, there is an abundance of foreclosed properties in some ... more

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