On foreclosure property does the bank have to reveal to potential buyers the driveway to the house is landlockedd? And in Virginia can the bank legally sell a house without giving prior owners a chance to purchase it back?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

On foreclosure property does the bank have to reveal to potential buyers the driveway to the house is landlockedd? And in Virginia can the bank legally sell a house without giving prior owners a chance to purchase it back?

On foreclosure property in Virginia does the bank
have to notify potential buyer that the driveway to the
house is landlocked ?

Asked on August 8, 2019 under Real Estate Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

No, the bank does not need to affirmatively disclose (that is, to volunteer the information) that the driveway is landlocked; foreclosure sales or auctions are full "as is" and the buyer has to do his/her "due diligence" and discover issues like this him/herself. (Remember: the bank is not a typical homeowner: it took over the property for nonpayment, but did not inspect it, choose it, occupy or manage or use it, etc. It is not held to the disclosure standards of a property owner who had the opportunity to discover the property's issues.) However, this should be readily discernable from the deed and title (e.g. from the maps and descriptions that go with the title), since it will be obvious that the driveway does not connect to a public road. So a would-be-buyer could find this out for him/herself before bidding--and if he or she does not, the consequences of failing to do his/her due diligence is on him or her.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption