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Updated almost 10 years ago, 01/10/2015
Bank & LA defensive over inspection...WTH???
Quite the interesting REO experience I just had:
I put an offer in on a property last week w/ a 10 day inspection; the bank countered with "0 days" for one. Now, since this would be my first rehab, I'm not comfortable with foregoing an inspection at this stage (nor will my private lender lend w/out one).
When we nicely explained the inspection would be needed to go forward with the purchase (or we'd simply move on, no harm/no foul), we got this looong email from the LA, demanding to know why I was asking for inspection days, why I hadn't inspected prior to making an offer (as if I'd spend $$ to inspect a property I hadn't yet won a bid on!), utilities wouldn't be turned on, etc. Mind you, nothing was stated in the listing about inspections not being allowed. And I guess this guy never heard of structural inspections--which is what my inspector does for REOs w/ no utilities--just to make sure there's no structural stuff I was unaware of (including buried oil tanks, etc.--which I narrowly missed recently, thanks to said inspection!) Then again, this is an agent I found out later was charged a couple of years ago w/ theft from a rival, so I guess shady behavior is a thing....the defensiveness not only left me incredulous, but looking at the seller & LA w/ a crazy side-eye--something to hide, perhaps?
We (professionally, of course) told them to stick it where the sun don't shine, lol.
But I just had to vent...since when does a seller get so bent out of shape because a buyer "dares" to ask for an inspection??? SMH...