Home Buying in 08854>Question Details

Robin, Home Buyer in Piscataway, NJ

When a home is sold, "as it" and buyer is resp for all certs and CO, what does that entail for the buyer?

Asked by Robin, Piscataway, NJ Mon Jun 20, 2011

Is it such a hassle to buy an as is home? Is it a long process with a lot of out of pocket for the buyer?

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When you take on the responsibility to get the C of O and all Certs you are agreeing to provide the cost of as well as the scheduling of all local community requirements for that home to meet the inspection needs of the town.
The C of Os differ from town to town for example in Piscataway there currently is NO Certificat of Occupancy for residential existing homes, when they are sold however someone still needs to go to the proper city office and pick up and pay for a letter that states that there is no C of O in Piscataway.
You will also in Piscataway need to pay for and get noterized a statement for the Fire Marshal's office that the home has both carbon monoxide and smoke detectors.
In South Plainfield the inspector comes to the property on a scheduled appointment and does a visual inspection of the property and there is also a higher fee involved there.
All homes are sold in "As Is" condition and it usually is further defined by the attorneys during the attorney review process if the buyer and seller are using attorneys to represent them.
NJ does not require buyers and sellers to have an attorney but in my 37 years of experience I have never seen a seller nor a buyer elect to not use an attorney.
A home can be bought in As Is condition but my experience is that the buyer always reserves the right to have a home inspection and usually the results of that inspection determine whether the condition of the home is acceptable or not.

If there are any other questions about this or any other real estate matters feel free to contact me directly at RE/MAX Home Pros, (732) 752-5500 Ext. 11
I do offer a complimentary buyer or sellers counseling session that runs about an hour that should answere all your buying or selling questions and takes you through the entire process from beginning to end.

George Colavito, Broker/Owner
RE/MAX Home Pros
Web Reference: http://georgecolavito.com
0 votes Thank Flag Link Mon Jun 20, 2011
Hi Robin,

When a home is "As- Is" and you are responsible for whatever the town requires. Some towns require a Smoke detector certificate, some require a township CO (certificate of Occupancy) to make sure the home is habitable... any repairs or adjustments necessary to make the CO good.. as in .. maybe stairs, a handrail... windows fixed. Whatever is necessary is the buyer’s responsibility.

A hassle? Not really, as with anything else most homes that are "as-is" like short sales and foreclosures .. You should be aware of these items going into the situation and have to deal with it.. it goes with the territory.
I really have not seen any move in condition, perfectly painted and all things done for you homes that are cheap and as is.. Pretty much does not exist .
1 vote Thank Flag Link Mon Jun 20, 2011
I have done several transactions this way, including homes in Piscataway. I would love to walk you through all of the steps that need to be taken. It usually is not much of a hassle at all for the buyer. A few phone calls and one trip to the town hall. You can even ask your realtor to make the trip; which is something I am always willing to do for my buyers.
A lot of the particulars depend on the property itself. let me know what property it is and I will be more than glad to go and preview it for you. I will also meet the inspectors at the property for you or with you.
If you are taking a mortgage on the home you do need a clean termite and Wood Destroying insect report.
Call me, I am experienced with this exact scenario, in this and other towns.
Cynthia Freund
Prudential New Jersey properties
908-447-6980
0 votes Thank Flag Link Mon Jun 20, 2011
If after your home inspection, you find that work needs to be done on the house whether it is code or repair, you are responsible. A conventional mortgage will not close untilo everything is up to code ande repaired. In this case you nee3d to do a 203K FHA mortgage. This mortgage would pay for repairs and bringing the house up to code.
0 votes Thank Flag Link Mon Jun 20, 2011
Hi Robin,

When a Buyer purchases an "as is" home, it means that the seller will not do any repairs or obtain any certificates or County/Township Inspections. When you have your Home Inspection, it will be your guide as what the home needs. However, usually your contract will have a clause with an amount for repairs. If the amount of repairs exceeds the amount in your contract you can choose to back out. You will also have to oblige to any repairs the County/Township (CO Inspection) asks for.
It's not really a hassle, because you would still have your Home/Termite Inspections done on any sale.

Good Luck to you!
Gina Fagnani
Realtor Associate
0 votes Thank Flag Link Mon Jun 20, 2011
It means you really have to do your due dilligence, find out from the county what certificates and CO are required, how much they will cost, etc. You might have your agent ask the listing agent exactly what they mean by that wording.
Many "as-is" homes are not a hassle at all. The sellers have kept them up, just don't want to be bothered with having to fix anything.
0 votes Thank Flag Link Mon Jun 20, 2011
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