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Updated over 13 years ago on . Most recent reply

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Sonoma Guy
  • Homeowner
  • Petaluma, CA
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BofA owned REO Buying home needs major rehab

Sonoma Guy
  • Homeowner
  • Petaluma, CA
Posted

Inspected the REO, cosmetically it was cleaned up so everything looked great. Upon formal inspection for Home/Pest found unpermitted electrical/plumbing/foundation/HVAC work that is a section 1 safety/health problem.
Bank won't reduce price to meet rehab costs, looking to call county permit office and place permit violation liens on the property to see if bank sees them as more serious issues and reduce the price.

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J Scott
  • Investor
  • Sarasota, FL
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J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied

Somehow, I don't think calling the county, getting the property liened, and pissing off the asset manager is going to get you what you want. Unless, of course, what you want is for that bank never to do business with you again.

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