Actually the last listing I sold as a broker, I sold "AS IS"
This area of real estate law has so much to it, it would be hard to discuss it all here. You need the expertise of a lawyer or an agent if you do not know what you are doing. The buyer can show up and sue you for 3 years if you do it wrong.
Here is the problem that you have. Just putting the "AS IS" on the listing does not relieve you of:
1. Disclosing any material facts
2. or allowing the borrower from inspecting the house.
In California, once the borrower inspects the house they may back out within 3 days without having to give a reason. If they do they are due a full refund of any deposits.
There are some notable exceptions to the duty to disclose, like if the property were a rental you can sell it on a no recourse basis, or sort of.
If you sold it and someone that did not understand their right to inspect the home they can come back later and ask you for a big fat check, and the courts probably would make you give it to them.
So you want to put it in writing that they have the right to inspect the house, they have the right to withdraw once they inspect the house and get their full deposit back. In fact you want to word the disclosure saying that you “recommend” they get a home inspection.
The home is worth something to someone, "AS IS" As an agent I would market this as a home with a FHA 203K loan to do the repairs. This way the buyer could get a home fully upgraded. My add would say choose your own carpets and wall color.
I would get a home inspection before I put it on the market, when ever I get an offer I would hand them the inspection and ask which of these items they will need repaired at the price they are offering.
Be aware you need to let them know that your home inspection in no way stops them to have a home inspection.
I am in Orange County and more likely can get you a better price for this property than you would get trying sell it your self. I am not sure if I would accept the listing as the distance may be too much.
Feel free to contact me for a free no obligation consultation.
The main thing is to get rid of any foolish thoughts that say you might get as much for your house as a house with no issues and everything is fixed. Package it up with affordable financing that makes sense for someone and that is they way to get top dollar for that house.... more
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