REO Disclosure Requirements

[Jason Kaufman]

In the inspection period of a REO and this thing has run all over it! I have had professional inspections and quotes for pest, foundation, roof, and mold. My plan is to renegotiate a lower price or walk. This house has been under contract at least three times and each time the investor has walked. So here is my question. The listing agent representing the bank and the bank itself has to know about all the issues with the property. Isn't someone in the chain required to disclose all the damage. I got it that they are trying to sell a house but the listing agent has certain ethical requirements ...right? I