There are many homes that are listed as a Tucson short sale, and many of these homes are listed “as is.” While that term may seem relatively self-explanatory you may find that there are some things that you can do if you find extensive home repairs.
First, with a Tucson short sale that has over $10,000 in home repairs, you can consider lowering your price. If you discover the repairs after you have submitted an offer to the bank, you may resubmit your offer to the bank to try and offset the cost of repairs. You should be aware that in this situation you would have to restart the entire acceptance process over again.
Second, you should understand that you must always work through your Realtor when working with a Tucson short sale. The buyer cannot ask the bank direct questions because the seller has never given permission to the bank to disclose any of the home information to anyone but the Realtor that is working with a buyer.
Third, with a Tucson short sale reducing your offer will not necessarily put money into your hand. It will decrease what you pay every month, but the extensive repairs will still have to be paid. When you get a home inspection make sure that you fully understand the nature of the repairs and that you sign papers with a plan to fix the issues on the house.
Some of the repairs in a Tucson short sale will need to be addressed before you move into the house. These repairs involve safety issues or code violations, but other repairs can be completed over time. It is more financially sound to only pay interest on the repairs that are too expensive to afford and need to be done before you can move in. The other repairs in your Tucson short sale may have to be completed over time, but it will save you from paying extra money in interest.
