Legal Question in Real Estate Law in Illinois
foreclosure / property sale
Is it legal for the property holding bank to refuse to have the water turned on by the city for an inspection by a prospective buyer if we agree to pay the outstanding water bill and inspection costs? The property was listed as is and we understand they will not make any repairs?
We have been prequalified and selling price does not seem to be an issue?
If they do not have the water turned on, how can we pass an appraisal for our mortgage?
2 Answers from Attorneys
Re: foreclosure / property sale
not illegal, but not very smart. Who will buy without knowing that the plumbing is in operable condition?
Re: foreclosure / property sale
Depends on who owns the house now.
Is it still in Forcelosure (i.e active case pending)...You can get an order from the judge
Is it in Bakruptcy, you can get an order from the judge
Is it REO, usually you can work with the agent.
Have you made an offer, or are you just looking?
If the bank ownes it they can do anything they want.
If the Mortgagor still ownes it then you have some leverage.
I need more facts to give you a better answer.
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