The process for purchasing an REO/Bank Owned home is similar to purchasing a home owned by you or me.
The paperwork starts with the standard Arizona Residential Purchase Agreement. Typically other addenda are included such as: As-Is Addendum, Lead-based Paint Addendum (if the property was built in 1978 or older), HOA Addendum, and Agency Addendum.
Once your offer is accepted the Seller/Bank will forward their own addenda that need to be signed by the buyer to move forward with the purchase.
For those of you wanting the knowledge, samples of these documents are available. Each Seller/Bank will have their own addenda, we have included a sample of just one.