Would you run away or take the risk?

3 Replies

Hello everyone!

Quick question. 

I have come across a foreclosure in a HOT prime area/location(its the worst house on the best street) and the listing says there are no inspections allowed and cash only. Originally the house was still occupied while it was going through the foreclosure process, but now the owners have moved out. So I was able to at least walk around the property, just couldn't get inside. 

I'm not afraid to put in an offer. I did my comps and when figuring out my offer I did worst case scenario(foundation & roof) and conservative ARV. The only thing that does concern me is the "no inspection" clause.

However if they accept the offer, wouldn't I be able to bring my own inspector in?

What's the purpose when banks won't allow an inspection? Is it because they are hiding something or would it be because the occupants were still in the house during time of the selling period? Just curious.

Thank you for your help and advice!

(614) 638-8635

Check to see if they mean no inspection contingencies. I would think they wouldn't expect you to make an offer without seeing the inside. They probably want all your inspection work done before sending in a offer so weasels don't do what weasels do. 

Hi @Bryan H.  thank you! This is what the listing says...

"As-is" cash only sale. No contingencies, viewings or inspections.

So I am guessing that is what they mean, no contingencies after inspection?

(614) 638-8635
Originally posted by @Nicole Pettis :

Hi @Bryan H. thank you! This is what the listing says...

"As-is" cash only sale. No contingencies, viewings or inspections.

So I am guessing that is what they mean, no contingencies after inspection?

 I would assume so, but best bet is to call the listing agent and ask. 

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