Tuesday, July 10, 2012
Buying a Forclosure - What "as is" Really Means
When you buy a forclosure, you are buying a property as is. That part is obvious, but the true meaning of that statement has begun to strike home for us in the last two weeks. We, like millions of others, bought our house from Freddie Mac. The bank put some money into fixing the house up - new carpet, fresh paint, a new stove and dishwasher. While they covered some of the big picture, they sadly let some of the smaller details slip in their quest to spend as little as possible. For instance, they painted the windows - however, they only painted the downward facing parts. The tops of the window trim are not painted and are covered with years of dirt. I am left wondering if the windows were cleaned at all, or if the dirt was just painted over.
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