Wells Fargo coming out with new BUYER BEWARE addendum for foreclosures

This morning at my office's weekly sales meeting we talked about the ever exciting world of foreclosed properties. Apparently Wells Fargo (who holds quite a few of the area's foreclosures) is rolling out a new 16 page addendum that SUPERSEDES any regional contract language and it's a pretty scary document. Language added includes provisions that release the seller (the bank) of any liability to fix damages. With winter coming up, many of these properties that have not been properly winterized have risk of pipes bursting and other such problems that the buyer would have no protection against. I've said this before but these foreclosed properties do not look like such deals after you pay for all the hidden problems!