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What does this mean? MLSLI Related
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mom2aidan
2 boys & 1 girl :)
Member since 11/06 1874 total posts
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What does this mean? MLSLI Related
I'm looking at a house in Hicksville for a friend. This is what it says under the description:
"This Property Is Corporate Owned And Sold In Current Condition. No Repairs, Warranties, Disclosures Or Inspections Provided By The Seller. Your Proff Of Funds Or A Prequalification Letter Must Accompany All Offers. A Speical Addendum Will Be Made A Part Of The Final Contracts. Buyer To Pay Transfer Tax."
What does this mean? Is it a foreclosure?
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Posted 6/2/08 4:52 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
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Re: What does this mean? MLSLI Related
It means that a company owned the property and it's being sold as is. The person interested in it will have to pay to have it inspected. The house may or may not be in bad condition. But at least you can pay to have it inspected to see if it's worth it. But being that it's company-owned they cannot disclose the condition of the property because chances are that it may have been rented out so the condition is unknown.
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| Posted 6/2/08 4:57 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
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Re: What does this mean? MLSLI Related
Sometimes (especially in bad real estate markets) companies that want to transfer people will buy the employee's house - that's what I would think it is.
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| Posted 6/2/08 6:16 PM |
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