I’ve got a lot of partial posts in my head and even some in progress but divine inspiration seems to be falling short today. I can update on a previous post about the two underground storage tanks that were found on our buyer’s bank-owned property. Even with the as-is clause the bank did hireAlpha Environmental to clean up the contamination. The buyer got her keys last night.
NPR called yesterday and wanted to do an interview with the buyer on Day to Day regarding buying bank owned/foreclosed property but it didn’t come to fruition. The transaction was an interesting process. The property has no emotional value to the bank, they do their thing on their timframe. They ignored and never signed the repair addemun requesting the decontamination but slowly went about taking care of it right before closing. The buyer on the otherhand was left haning for almost three weeks not knowing if the bank would do it or not; very emotional and trying.
Thanks for posting the update Charles. I’d like to suggest that your experience may be a result of the growth in REO. The bank probably didn’t mean to leave you hanging, but probably has some a overworked REO staff that had other priorities until closing day crept up.
At any rate, it sounds like your client was pleased to have an experienced Realtor to hold their hand throughout the transaction.