The Disclosures

In some states, it is required that sellers prepare and provide a Residential Property Disclosure to all buyers. This often itemizes areas of the home that may have damage, such as the foundation, roof, etc. Depending on the state and the laws therein, corporately owned homes such as bank foreclosure listings may not be required to have an accompanying property disclosure. Therefore, there may be problems that you don’t know about and the bank is not required to disclose them.