Baton Rouge Real Estate: Why Some As Is Where Is Home Sales Are Not Allowed By Lenders

http://www.accuratevg.com/ - Baton Rouge Real Estate Why Some As Is Where Is Home Sales Are Not Allowed By Lenders.

In this video, Greater Baton Rouge Home Appraiser, Bill Cobb, discusses and shows examples of reasons why Lenders are doing less and less of As Is Where Is purchase agreements for home sales. The reason is that the lender generally sells that loan to Fannie Mae or another entity and the buyer of the loan is more hesitant now to buy a loan on a home with repairs needed.

Yes, sellers can have their Real Estate Agents write such purchase agreements but someone will generally be required to make these repairs prior to closing has been my experience in the past 2 years since the mortgage real estate meltdown.

NOTE, I did forget to include the video clips mentioned in video. The link to the photos of the repairs needed, peeling paint and rotten wood is located here flickr.com/photos/billcobb/sets/72157628882124737 . There was more than just one location of rotten wood.

http://www.youtube.com/watch?v=xFWyIchua88

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