How to buy Foreclosures

What You Should Know About Submitting an Offer

• The Seller is not the builder of the home so there are no builder warranties or a Seller’s Property Disclosure. The property is sold in a “Where-is, As-is” condition.
• The Seller has their own contract that should be used to submit an offer – please do not submit an offer on the GAR Purchase and Sale Agreement form. The Seller’s contract is attached to the home listing in MLS/FMLS.
• The Seller has a preferred lender. The special stipulations address the Seller’s Preferred Lender and closing cost incentives. Please note that within 5 business days of the contract Effective Date all non-cash Buyers will be required to apply for loan approval with the Seller’s Preferred Lender. Buyers are not required to use the Preferred Lender to finance the purchase of the property.
• If you would like to add any additional special stipulations please do so on a Special Stipulations form. DO NOT write any additional comments or paragraphs etc anywhere else throughout the contract other than on the special stipulations page.
• Please include the GAR FHA or VA Exhibits where appropriate.
• The Closing Attorney will be assigned by the Seller.
• Earnest money must be certified funds made out to and held by the Listing Agent’s Broker.