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Curt Schulz, Other/Just Looking in 11206

When a house is sold "as is" what does this mean? What can you expect when you go to see the property?

Asked by Curt Schulz, 11206 Wed Feb 27, 2008

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Curt -

An "as is" property can mean lots of things to different people. Probably the most common meaning is that the seller wants an offer without a list of items to fix. They may know of the items or the items may come out in a inspection that buyer completes. Sometimes fixer-uppers are sold "as-is" and the price reflective of the repairs needed.

Here is another thread previously posted on Trulia on the same topic.

http://www.trulia.com/voices/Home_Selling/I_need_to_learn_mo…

CJ
2 votes Thank Flag Link Wed Feb 27, 2008
The term "as-is" is often mistakenly used when dealing with Real Estate. What the seller means to say is "even if you have an inspection, I will be unwilling to address any of the faults that the inspection may discover". You should expect the asking price to reflect the circumstances, but this is probably a home to avoid if there are other similar homes on the market. "as-is" means look out to me!
1 vote Thank Flag Link Wed Feb 27, 2008
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