As the title of this blog suggests, we are talking about buying a property listed “as is”. While there are many kinds of purchasing options these days, perhaps you have seen some houses for sale listed “as is”. But, what does this mean and is it a good idea to buy a property like this?
Usually when a homeowner lists their house for sale “as is” its because they do not want to be responsible for the state of the home when its sold. They might also not want to do anything to fix it up. Does that mean, then, that buying a home like this is a bad choice?
The answer to that question really depends on the person buying the property. If they like the location and it’s a price they want to pay, then there is no reason to assume it’s a bad deal. There is, however, some things you must do if you are considering this type of purchase. Its important for you to know what kind of state the property is in. Maybe you live in a location that legally requires the homeowner to provide a written disclosure telling you what kind of condition the property is in. But, is that enough? Can you trust that everything wrong with the property has been listed in this disclosure?
Sometimes these disclosures do not contain all the information they should. This is why it is best to have a home inspection done on the property before you make a final decision. The home inspection will find out any issues that may not be apparent just by walking through the home. While its probable that you are already prepared to fix it up a bit, the inspection will give you an idea of just how much work you’ll need to do.
As we can see, then, buying a home listed “as is” can work out well as long as you make sure to find out what you can about the properties condition before you buy. A home inspection will help provide the information you need.
