Q: in a bank foreclosed property sale does the bank have to provide a property survey
does the bank have to provide a survey of a property under Va law
A: To whom? Why? How will it be used? If you are the foreclosed party, you lost your rights to the property at the foreclosure. If you are the bidder, foreclosure sales are usually "as is" with all risks to the bidder. With all the extra foreclosures soon to be on the market, banks may find that providing extra information gets enough more to cover underwater mortgage notes, or, they may bid them "as is" and then provide surveys and improvements when the sell them as REO. But, if you are going to play in the foreclosure investment business, you need to do your due diligence in an environment in which a due diligence investigation is usually impossible.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
