If you’ve been browsing listings for a while you’ve probably read the words “as is” in a listing. There’s a good chance those red warning bells go off when reading that.
So, here is the lowdown on a property listed “as is” and what to do when your purchase a home like this.
An “as is” home basically means, the Seller isn’t making any guarantees about the condition of the property. More importantly, they aren’t prepared to fix any deficiencies found, either.
It mayyyy have mold between the walls OR it could be listed this way due to a few other not so scary reasons.
It could simply be that its being sold by the bank, a hands-off investor who just isn’t familiar enough with the house to speak on its condition OR an older owner who doesn’t want to deal with any repairs or issues.
Make sure if your going in on this type of property you do the following:
✅ Get a home inspection or have an engineer or someone else qualified to walk through the house to make sure theres no major issues and Have a clause in your offer so that you can back out if theres a budget-busting issue that you don’t want to deal with.
✅ Ask ALOT of questions.
✅Accept that you likely won’t be able to sue the seller for deficiencies
✅Most importantly… have a GOOD budget set aside for repairs.