I really really want this house, but Citibank who owns the property will not allow an engineering inspection and will not have the utilities turned on to facilitate the inspection. How can they do this? Aren't they bound by some law or rule that they must allow an engineering inspection if the buyer is willing to pay for it?
2007-02-27 05:42:43 · 4 answers · asked by Mrs. E 1 in Business & Finance ➔ Renting & Real Estate
Wait until they list it with an agent. In the Broker's Manual for Citibank it requires that the listing broker have all utilities turned on and yard maintained, etc. Then have the listing agent allow you access to have your engineering report done. You will foot the bill for the inspection, but if you are unsure of the structural integrity of the property, it may be worth it. Another way is to read the Citibank Addenda to the offer to purchase, I am sure it addresses a time period allowed for inspections (I know on Fannie Mae properties it is 7 days). If that is the case, get it under contract and then do your engineering report during the inspection period. I recommend getting a buyer's agent to help with the negotiation of the purchase.
2007-02-27 06:58:52 · answer #1 · answered by Scott 2 · 0⤊ 0⤋
They are not bound by any law to facilitate you and what you want to do. The house belongs to them.
They are selling the house as is and in all probability will not make any compensation for any possible damage.
You have to make a decision to take a risk with the property or pass and move on.
If you want some on to go out to the property and see if there is anything that looks out of order then you can do that, but any help from the bank forget it.
if you find something wrong with the property, would you want them to pay for it? If they refused to pay for any damage found would you still be interested in purchasing it?
I hope this has been of some use to you, good luck.
"FIGHT ON"
2007-02-27 06:22:33 · answer #2 · answered by Skip 6 · 0⤊ 0⤋
My guess is that this is a foreclosure property and they are selling it "as is". They are basically telling you that if you want it, you buy it the way it is because if it has mold or termites or anything else, they're not fixing it.
They usually will allow you to inspect the property though to determine if it's worth buying. But there is no law that they have to. You have the choice of not buying it if you can't inspect it first.
2007-02-27 05:49:00 · answer #3 · answered by Faye H 6 · 0⤊ 0⤋
Foreclosed homes are sold as is. I you sure that you are not confused? normally they have no problem letting you have the inspection, they just are not going to do anything about any issues that arise.
Good luck,
Re Agent,
Remax
2007-02-27 10:10:42 · answer #4 · answered by frankie b 5 · 0⤊ 0⤋