Massachusetts Foreclosure Process
Massachusetts Foreclosure Process
Does the bank have to pay for the water heater in the basement if they are selling a bank foreclosure home?
I live in Massachusetts and I am in the process of buying a bank foreclosure home. The inspector said the heater isn’t working so he won’t pass it… so I am trying to get the bank to take off $5k off the house to cover the cost for installing a new one. The agent is the middle man and he said that the bank won’t take off anything…. Should I take his word for it or is the bank suppose to put in the heater in order for the inspection to pass?
I’m a first time homebuyer so I have no clue. I’m taking a first time homebuyer class in a week but I just wanted to get some opinions on this.. Thanks.
No, foreclosures are as is. You would expect problems. Your lender may not loan on fixer uppers but you can change lenders or pay the money to have it fixed before you get the loan.
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