More Foreclosures – More Problems?

As more and more foreclosure listings come on to the market, I see more and more lenders/Realtors write in the listing that the SPDS (Seller’s Property Disclosure Statement) and CLUE Report or Claims History will not be provided.
In my opinion, there is no reason for a bank, other than wanting to “play dumb,” to say they “can’t” provide this information. While it may be obvious that they have never occupied the property, they still have some type (probably very limited) of knowledge about the property.
While I strongly believe that a buyer should always do their own “due diligence,” I believe waiving their rights of disclosure in a contract should not be their only option.
Interestingly enough, while the market was heading straight up in the past, many buyers were waiving some of their rights from our contracts as well. Things like inspections, appraisals, warranties etc. were often waived to make an offer more appealing. Think some of these people would like a “do over?”
Fact is, in “good” markets and in “bad,” people deserve to be treated fairly and represented well. As always, help and guidance is just a call or a click away…
“Just Call Nick” I am glad to help!

About Nick Bastian

Nick Bastian is a 25 year veteran of the real estate industry and enjoys his career very much. Nick is always available to "talk shop" with anyone that may have real estate related questions. "Just Call Nick" at 602-803-NICK (6425) - he's glad to help.
Nick can also be found over on the Phoenix Real Estate Guy blog and on Twitter or out and about in the community making friends and having some fun.

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