I want to buy a particular house, but the description reads "corporate deal." Anybody know what that means?

Question

The description is saying "subject to corporate approval" and "as is." I know as is means that nothing will be fixed, but I don't exactly know what "corporate deal" or "subject to corporate approval" means. Does this mean it was an estate and the bank owns it now? Or maybe it means it was a foreclosure or something? ALSO, I have cash to buy the house, and I'm wondering if this will help or hurt me in the bidding process of a "corporate deal." Thanks to anyone who can help me!

Answer 1

This means there is either a company or bank that owns the home. It could be a Foreclosure as well. Get your Real Estate Broker to do some investigation on this home and find out who is the actualy owner. If it is a Company selling the home as Relocation deal or they owned as an executive home, then you may be good, but foreclosures have certain addendums and criteria you must follow in order to make the deal work. You Broker should be able to get these for you.
Cash and a quick close will help you in this deal. Make sure it is stated in the contract that this is a Cash Sale.
Since the home is being sold "as-is" I would suggest getting a home insepction on the home before bidding...if you have time to do this. This will show you all the items wrong with the home before you waste time bidding. It will cost you a little money, but will be worth it in the end.

Answer 2

The property is probably now owned by a corporation as a result of an agreement to purchase during the transfer or relocation of an employee. Buying such a property is similar to buying one 'conventionally', except, of course, that the ownership retains the right to approve any offer to purchase from the corporation standpoint.

Answer 3

It usually means the property is part of foreclosure and is owned by a bank. When it comes to buying ANY property, a cash buyer is always preferred because you can close immediately (and an empty house isn't making anyone any money).

Answer 4

"Corporate deal" means that the property is owned by a corporation, and probably the board of directors would have to sign off on the deal. This has no significant impact on a buyer.

Answer 5

The TC badge is presented no longer in basic terms on the inspiration of the optimal type of BAs.There must be different parameters besides that are no longer stated or indicated to the customers.One positive morning you would be greatly surprised which you have been presented the TC badge.And in the past you are able to bask interior the comprehend of having been chosen by using fact the TC,this is yanked leaving no longer in basic terms egg on your face yet with the main idiotic and stupid smile with you attempting to describe to acquaintances as to what got here about.have not you heard of the previous quote,to wit,"Inscrutable are the techniques of GOD"?which would be desirable to the lads at Yahoo who take a seat in judgment and picture that they are the Gods.those men dish out freely violation notices quoting community rules that have now become so archaic that they might additionally be termed as "PRUDISH".mutually as I agree that even Askers deserve the TC tag,tell me relatively no rely while you're sorry which you have no longer been presented a TC badge.i'm particular which you which includes your experience and awareness have contributed to Y ! A extra beneficial than maximum TC tag holders.I relatively have had TC badges for 4 categories in my previous avatars.I relatively have crossed all that time of preliminary thrill.Now all I focus is on giving crisp,even terse and specially responses which mirror my solid perspectives yet without rancor or enmity.the place a possibility i like to spice my solutions with a sprint of humor.extra beneficial than the tag,i replaced into relatively gratified and proud while someone even went to the quantity of dubbing me "a widespread-day Bernard Shaw".And while in comparison with that form of compliment one thousand TC badges could stand nowhere. popularity of ones abilities ought to come from fellow customers/friends rather than from a collection of characters who proclaim themselves as "comprehend-it-all".And that counts for no longer in basic terms some thing yet lots.those are what's going to swell ones coronary heart with rightful satisfaction. Have a surprising Day.

Answer 6

it's owned by a company who has transferred an employee. it means the offer you submit will be scrutinized by the company and they won't be as desperate to sell as an individual might be, meaning you will pay close to what they are asking. get yourself a buyers agent (realtor).