Updated about 8 years ago on . Most recent reply
Bid on Xome - advice and attorney needed
About to bid on a home on Xome. Personal home, not investment. My agent says we should bid and if we win, then have the septic inspected. ($325 to have the camera come out) - already did the rest of the inspections and have quotes on everything. It's just the septic guy that charges, so we didn't do it yet. Auction says "There are no inspection or financing contingencies" There's a 5% buyers premium which is a lot of money - will I be losing my earnest money if I win the bid and then back out later due to bad septic? Should I eat the cost?
Also, looking for a CT RE Attorney... if anyone is on here practicing in CT, please message me.
Most Popular Reply
Yes you would more than likely lose your earnest money. Your bid should simply take into account that you will replace the septic system.