If you are a buyer in Ann Arbor and are looking to purchase a foreclosure you will be required to sign the bank addendums if your offer is accepted.
Every bank wants their own Purchase Agreement and or Addendum signed after the offer is accept. ed You can’t blame them they are dealing with foreclosures all over the country. They want consistency in their documents and not hundreds of different purchase agreements from all over the U.S.
Lately we have had a few buyer clients want to modify, edit or change the bank addendums.
This is not going to happen. Anymore than when you buy a home with a Relocation Company and they have their own addendum’s.
When we are selling a foreclosure in Ann Arbor we always encourage (strongly) that the buyers seek the advice of a local attorney. If you are purchasing a foreclosed home, under market value, then please spend the money and get Attorney Review.
Even the local attorneys tell our buyers that the addendum’s must be signed.
If you don’t want to sign the Bank Addendum’s then DON’T LOOK AT FORECLOSURES!
It is really as simple as that.
- The Ripple Effect of The Abrupt Halt to Foreclosures (annarborundressed.com)