Bank of America addendums
Has anyone else dealt with these BofA addendums when purchasing a REO from BofA?
We've been counter-offering back and forth for almost 2 weeks and finally have agreement, but before the deal formally goes under contract BofA wants me to sign-off on 21 pages worth of addendums:
- a 17-page Real Estate Purchase addendum
- a 1-page Buyer's Acknowledgement and Disclosure
- a 2-page Water Damage, Toxic Mold & Environmental Disclosure, Release and Indemnification Agreement
- and a 1-page Lead-Based Paint and Lead-Based Paint Hazards Disclosure, Acknowledgement and Disclosure.
I've skimmed through it and it appears to be a lot of CYA type stuff, like there's not property condition disclosure, its being sold "as-is", buyer won't hold BofA accountable if problems with property arise at a later date, etc. (I'll be looking through it more carefully before I consider signing and returning).
Has anyone else encountered this?
Any recommendations how I should proceed?