When making a decision which homes to preview, keep in mind the key words written in the listing. The clues are all there, words such as fixer upper, needs a little tender loving care, tear-down etc. Messages from the selling agent state the home is not eligible for FHA financing or cash only, an investor special. An investor special is like the ad for a dog in the newspaper which states the dog is not suitable for children. What the ad really tells you is that the dog bit the owner. An investor special means a home owner should look for another more suitable home to purchase.
The agent remarks are intended to give the buyer and his agent an idea of what is happening with the property. They let the buyer know if a mortgage loan is possible for the home. Whether the home can be moved into immediately after the home closes, or if repairs will be needed first. The remarks may even carry a warning such as mold is present in the home or major repairs are necessary. Remember the agent is trying to sell the home, most likely the home is in worse shape than the warning. Leave the homes which are money pits to others.