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.” This means the appraiser needs to pay close attention to the property’s condition and possible repair costs. The property may also have legal issues, like title problems or unpaid liens, which can affect its value. That’s why a complete home inspection is essential when looking at REO properties.
Not only do disclosure documents serve to inform buyers, but they can also protect the sellers from future legal action. It is the seller's chance to reveal anything that can negatively affect the value, usefulness or enjoyment of the property. The inspector checks all systems and components from the roof to the basement.
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