Warn your Buyers about Sellers Addendums on bank owned properties.

Below is one section of a Sellers Addendum that I believe needs to be reviewed with any buyers. Look at section (b). I think most know that seller addendums like these were written by the attorneys for the sellers and the clients they represent. The wording you see in section (b) is similar to what you see on HUD Owned properties, Now I am starting to see it more often on non HUD contract. IF you are asking the seller to assist your buyer with closing cost and encounter an addendum like this, verify with your buyer if they can cover the additonal closing costs that this paragraph will make them libel for paying.

Any Ohio buyers or Realtors that have any questions, please give me a call or send me an Email.