What Is an “As Is” Sale?

When house-hunting, you may encounter the term “as is” in the listing information. While technically, most homes are marketed in “as is” condition, it is not necessarily an indication for alarm. But you will want to look for red flags. The seller is likely putting you on notice that no repairs will be made. Your purchase should always be subject to any inspections you procure, which will be a protective contingency in your offer.

Most sellers will back away from their “as is” stance and do some negotiating on reasonable repair requests so they won’t lose their buyers. If a seller sticks to his guns and refuses to remedy repair requests or offer any credit in lieu of repairs, you have a right to cancel the sale without penalty.

Even if an “as is” property appears in good condition, we would not recommend that you waive your right for inspections just to be able to consummate a deal because there can be an unknown that becomes your liability once you have possession.

Having an educated real estate agent on your side throughout the process is a must to make sure all sides of any situation can be seen.  Together, you’ll work to make a favorable offer.

If you enjoyed reading this article, you’re sure to love more!  Please see the side panel on this page to access our monthly Blog Archives.

  • Share/Save/Bookmark

Leave a Reply

Your email address will not be published. Required fields are marked *