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Matt Jablonsky (718) 690-4372's Blog

By Matthew Jablonsky | Broker in 10312

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.

www.mattjablonsky.com

Comments

By Sharon Paxson,  Wed Mar 12 2014, 07:44
A home inspection will reveal a lot of important information in the home buying process.
By JOSEPH RUNFOLA JR, BROKER, GRI,  Sun Jul 6 2014, 05:57
"As Is" are contract words indicating that the seller makes no guarantees or warranties about the property; not always effective if challenged in court. The term as is, does not relieve a seller from defects to the property or required disclosures of material facts that affect the value of the property when known to the seller. Current seller disclosure laws, when and where applicable, have shifted the responsibility more in the direction of the seller.

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