Posted by Dave T on April 27, 1999 at 22:18:35:
Take pictures of the condition of the property, especially the problems. Send in those pictures with your next offer. Also, include your estimate (be sure to include a fudge factor for unknowns) of the repairs required and submit your offer asking for the repairs to be made as a contingency of settlement.
When the bank balks at doing repairs, then ask them for a repair credit equal to your estimate. If successful, you may get cash back at closing to either do repairs or pay off the credit cards. Instead of giving you cash at closing, the bank may just hold your funds in a maintenance escrow account. As repairs are completed, you draw against the escrow to pay your repair expenses.
Once you are in the house and have completed the repairs, you can explore a home equity loan against the equity in the after-repaired-value in your home to pay off your credit card debt.