What does this mean in Realtor ads?

Question

No Disclosures. No contingencies.

Also I am looking at buying a really low priced home that needs lots of work and due to certain reasons I really don't want a home where a horrible crime or death has happened. Does the seller have to disclose this information to me or is that what it means when it says No Disclosures. Please no rude answers.

Answer 1

It means they want a straight-out cash sale with no extra clauses in the offer. They will not tell you what's wrong with it and they won't allow inspections or "subject to getting financing" clauses.

I wouldn't buy it without a construction contractor at my side when looking at it, listing "worst case scenario" assessments.

Whatever low-ball amount you have in mind offer about half.  

Answer 2

No contingencies means basically you cannot have the safety net of getting out of the deal if something goes wrong with the house. (At least that is my interpretation of it after lookin it up on Wikipedia.) Go to Wikipedia and look up the words.

Answer 3

I'm not sure about no disclosures, but a contingency is when the buyer needs to sell another property before they can close on the second property.  Essentially, the purchase of the new home is contingent upon selling their current home.