TIP #7. All Properties are Sold “AS IS”
The Bank has already lost a significant amount of their investment in these properties and are not willing to negotiate repairs. There are usually no allowances for carpet, lighting, paint or other issues with the home.
All buyers are advised to have a home inspection which includes a termite inspection to determine the condition of the home. In addition to the cost of the inspection, there is a non-refundable cost to the Buyer to turn on the utilities.
There is also a pre-negotiated “due diligence” period in which that inspection must take place. Banks are seldom willing to extend that period, so you must complete your inspection within that allotted time.
It is after the inspection that the buyer can make an informed decision about whether or not to purchase the home “as is”.