Home Buying in Manasquan>Question Details

Debbie Criag, Home Buyer in Manasquan, NJ

what is an "as is" sale?

Asked by Debbie Criag, Manasquan, NJ Mon Mar 22, 2010

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Others have explained that the seller is selling the home in it's "As Is" condition and will not make any repairs. Here in the Cape Coral, FL area the majority of homes are being sold "As Is" with the right to inspect. If the buyer doesn't like the results of the inspection they can cancel the contract to purchase. Just because it is listed and sold "As Is" doens't mean anything is wrong with the house - our market became this way due to the large number of foreclosures and short sales.
0 votes Thank Flag Link Tue Sep 11, 2012
"As is contract": The buyer is being giving the opportunity to look for any defects in the property and the seller is giving the buyer the responsability to discover the defects and accept or reject them along with the property. It is very important therefore, that the buyer hire an inspector and know what are the property liabilities are, before settling on the purchase. Is always a good idea to get an Attorney to review the contract, before you sign.

Best of Luck,

Maria E. Cipollone

http://www.Flahomespecialist.com
0 votes Thank Flag Link Tue Sep 11, 2012
"As is" means that the property may have some issues that the seller does not want to deal with so "as is" means that the buyer would be responsible for any issues, if they choose to buy that particular property.
0 votes Thank Flag Link Tue Sep 11, 2012
Hi Debbie,
a " as is" sale is a home that may or may not have issues. But the seller is not willing to repair or give a concession on any damage that turns up on a home inspection.Because, in New Jersey, even if it is a "as is" sale. A buyer still has the right of home inspection by a licenced home inspector. And if something is found that is unacceptable to the buyer .The buyer has the option to ask the seller to address the issue or cancel the deal . But since I am not a lawyer . I would say confirm this with a lawyer.
Web Reference: http://robertsuarez.net
0 votes Thank Flag Link Tue Mar 23, 2010
It means the seller doesnt want to be responsible for anything. Its the same as selling your used car, you just dont want the buyer to call you 2 months down the road and give you a hard time about something that needs to be fixed. It places all the responsibility on the buyer in this sense to do the home inspection and determine if the buying the property is worth it if it needs repairs.
Web Reference: http://www.sjrates.com
0 votes Thank Flag Link Tue Mar 23, 2010
as-is. I will not fix it. I will not pay for repairs.

maybe... I know it is junk and do not care. Take it as-is or look elsewhere.

very rarely... It is in good condition, but I do not want any hassles selling it. as-is just buy and leave me alone please.
0 votes Thank Flag Link Mon Mar 22, 2010
Hi Debbie,

Edward makes a good point. "As Is" on the listing may scare off buyers who assume the property has been neglected. I sold a property that was in pristine condition that was "As Is". It just meant the sellers were in California and not able to address any requests from the buyer. That can mean the buyers wanted the swing set removed, etc. Don't be afraid of "As is", just be sure you have a great property inspector. You may get a fantastic deal on a house if other buyers are scared off!
0 votes Thank Flag Link Mon Mar 22, 2010
Hi Debbie,
"As Is " is just as it sounds there will be no improvements or finishes on the property by the current owner. This could also mean that the buyer will be responsible to get the certificate of occupancy needed to transfer title on the property in most towns. Sometimes it is something as simple as an owner who invested too much money in the home and will not put another penny into the property and the house could need some minor improvements so it is sold as is to let the buyer know this is not negotiable. Other times it could be more serious and need major improvements to get it to code.
Suggestion: If you like the house and the price bring in a good inspector and get an assessment of the cost to get the house to code. If you are ok with the assessment consult a lawyer to get the legal aspect of the sale . Then if all is acceptable you can move forward to make an offer.

Good luck,
val gabela
0 votes Thank Flag Link Mon Mar 22, 2010
"As is" clauses in sale contracts mean that sellers aren't making guarantees as to a property's condition, and aren't going to make any repairs. That's a buzz-kill to many buyers, who assume, rightly or wrongly, that something major is wrong with the house. It is obviously always best to have an inspection done on the home.
0 votes Thank Flag Link Mon Mar 22, 2010
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