If a house is being sold "As is" should we assume there's a problem?
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Anonymous
| Is this a relatively common thing to include in a listing , intended to avoid the headache of nit picking inspections, or is it to warn buyers that this might be better off as a tear down? |
Anonymous
| Most likely the property's valued is tied to location and land more than the house. |
Anonymous
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"As is" shouldn't preclude you from doing an inspection right?
As is could mean a major problem or could be reflective of the seller's circumstances--divorce, death, too lazy to fix crap |
Anonymous
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[quote=Anonymous]"As is" shouldn't preclude you from doing an inspection right?
As is could mean a major problem or could be reflective of the seller's circumstances--divorce, death, too lazy to fix crap[/quote] Do the inspection so you know what problems you are buying and they are not fixing. There will be issues and they already know some of them. |
Anonymous
| I believe "as is" is quite common now a days. Particularly in areas where their is low inventory and a lot of competition. It just means they don't warrant anything. If you are a seller, why offer a warranty of any type if the market doesn't require it. That is my take and I have been fairly active in the real estate market in DC in the past several years. |
Anonymous
| We live in an area with quick sales and I plan to list "as is" because I don't want to deal with all of the back and fourth bs. Why do that if you don't have too? |
VArealtor
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Depends on the neighborhood/market, OP. In a hot market, it just means that the owner does not want to deal with any repairs. What you see is what you get. Usually it will be priced accordingly.
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Anonymous
| To the realtor who posted, are sellers generally receptive to as is inspections in those cases? Do the realtors ever give potential buyers info about the issues if there's something they already know (the hvac doesn't work, the roof is 50 years old and leaking)? |
Anonymous
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PP. ask the agent if you could do an inspection before submitting an offer. Often as is sales are related to an estate and there is little info about the house. If your inspection finds major problems you don't want to correct, do not submit an offer
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Anonymous
| We bought ours As Is and still did an inspection. And we got a credit for some roof repairs that turned up. The sellers didn't want to deal with fixing little things, and we were planning to do a reno anyway, so it worked out fine. But definitely do the inspection. |
Anonymous
| I bought a house in AU park that was sold as-is. It was sold by the relatives of someone who had died. They didn't want to bother to fix anything, as others have said. We didn't have inspection as a contingency, but got one just for ourselves. There was nothing wrong with the house. Why fix something if you know the house will sell either way? |
Anonymous
| Do the inspection so you know what immediate things you may have to address. But as-is sales are potentially great if you negotiate well and if the sellers (for whatever reason) are looking to sell. |
Anonymous
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In popular neighborhoods "as is" sales are often tear downs, so there is no need for an inspection.
But if you are not tearing down, one way or another have an inspection. |
Anonymous
+1 Thanks for chiming in. We need more professional, experienced opinions and less inaccurate speculation! |
Anonymous
Not true. I have seen many "as is" That are not estate or foreclosed properties. The properties are usually in hot low in inventory areas. Buyers can submit offers with a home inspection contingency to determine if they want to go forward with the purchase. |