Buyer’s Don’t Let “As Is” Scare You!
Published | Posted by Munira Yahya
Seeing “as is” on a home listing can make some homebuyers nervous. Thefirst thought often is, “what’s wrong with the home”? In fact, the term “as is”should not scare you away from a home that otherwise looks like a good fit.Understanding the term, its use, and how to approach the situation canlead to a great deal and good investment
First, “as is” does not necessarily mean “fixer-upper,” even though this is acommon belief. Most often, the term “as is” is simply the seller’s way ofletting prospective buyers know that they do not want to be botheredmaking minor repairs.
Writing an offer on an “as is” listing does not mean that you agree to takethe home in any condition, nor waive your right to have inspections. It’simportant to do thorough inspections and investigations of any home youconsider buying. After carefully reviewing the condition of the home, youcan still request repairs or credits during your inspection period, even on an“as is” home listing. The sellers may or may not agree to do some repairsfor major issues to ensure the conclusion of the sale.
Finally, some homes are in such poor condition that the “as is” descriptionis a true warning. These homes may not qualify for traditional financing andrequire serious consideration about the cost and effort to repair. Most of thetime, if the home appears to suit your needs, you can feel confident movingforward with the process. “As is” does not need to be scary and it does notmean you still can’t make informed decisions after an inspection.
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