Buying a House That is "As Is"
6 years ago
A lot of home shoppers out there may come across a house that is listed "As Is." It is a confusing and broad statement. Should you ever consider buying a house that is an "As Is" property?
It really depends on the house and the situation. There may be two reasons a house is marketed as an “As Is” Property.
- The first reason may be because the seller just doesn’t have the money to make the necessary repairs, and wants to get out from under the cost of repairing the property.
- The second reason is much more difficult. A word of caution is in order. The house may have serious problems! Something serious may be defective...so buyers beware. Generally speaking, an “As Is” property tends to have a major structural or functionally obsolete (i.e. expensive!) problem. Typical problems may range from a faulty roof, foundation problems, termites or serious termite damage, leaking pipes or other plumbing problems, to problems with a pool/spa just to name a few.
It is in the buyer’s best interest to have a home inspection completed and all the problems documented, so that the buyer is aware of any potential issues with the property.
If you are buying or selling a home and need competent and caring agent, please call me at 801-244-4166.