Buying a home "as is"
The good old dreaded phrase "As Is" is often something that many buyers
view as intimidating or scary. This phrase is a term that in my opinion
is used way too loosely in the real estate industry. Right off the bat,
when someone sees that phrase, they automatically think something is
wrong with the house. There are a few ways you can approach a seller
demanding the property be sold "As Is." First off, there may not be
anything wrong with the house at all. Sometimes the seller may counter
an offer not with a new price, but simply stating that they will not
make any repairs after a home inspection has been conducted because this
is truly there bottom price. The truth is not every seller has the
knowledge as to any and all issues that are current with the property.
The harsh reality is that in the real estate business, it is buyer
beware! Believe it or not a home inspection is not something that is
required by a bank in order to purchase a property. With that said I
would always advise a buyer to conduct a thorough home inspection from a
licensed home insptector, not your uncle or friend who "is in the
construction business." When agreeing to the terms of an "As Is" deal,
remember after the inspection is complete, and you are not happy with
the outcome and the fidings, you can simply walk away from the deal.
Major issues such as roofing, heating/air conditioning, and termites are
always whats most important. Don't be too caught up in cosmetic issues
such as paint, loose toilet bowls, or dirty carpets. Look at it as an
oppurtunity for a fresh start to upgrade the rooms in the exact fashion
that is appealing to you. Also keep in the back of your mind that there
very well can be no major issues with the home in an as is deal. Don't
be discouraged to take on a deal in as is terms. Make sure your
surrounded by the right team that will properly inform you of what truly
is critical to the safety and structure of your new potential home.