Buying a property listed “as is” is just one of the many property buying options to choose from. Perhaps you’re looking to buy a home that needs fixing up. If you are, then perhaps buying “as is” is a good option for you. But, is it a good idea? What does it really mean to buy “as is”?
When a person lists their home for sale “as is” it is usually because they do not want to go to the trouble of fixing up the property. It’s also possible that they would rather not be held accountable for the state its in after being sold. So, does that mean it’s a bad choice? Is it worth it?
As to whether it’s worth it or a good choice is really up to the person buying the property. If you like it and it’s the location and price you want, then there is no reason it should be a bad option. However, you should do all you can before you buy, to make sure of its true condition. How can you do that?
Have the property inspected by a certified home inspector. By doing this, you will be getting a good idea of what you’re in for. Yes, it’s true, the home may well have obvious signs of work needed but some of the major problems might not be so visible and a home inspector will be able to determine areas of concern. This could possibly save you a lot of money in the end.
You may be living in an area where the seller is legally required to provide a written disclosure as to the condition of the property. Does this mean there is no point in having the home inspected as well? These types of disclosures are not always as comprehensive as they should be and the home owner, if they are less than honest, may well leave out important information. In such a case, its best to err on the side of caution. The home inspection will also give you an idea of the trustworthiness of the seller, if they find problems not listed in the disclosure.
So, purchasing a home listed “as is” could be a good option for you, depending on what you’re looking for but, make sure you take every precaution before you buy, to ensure you know what you’re getting.
When a person lists their home for sale “as is” it is usually because they do not want to go to the trouble of fixing up the property. It’s also possible that they would rather not be held accountable for the state its in after being sold. So, does that mean it’s a bad choice? Is it worth it?
As to whether it’s worth it or a good choice is really up to the person buying the property. If you like it and it’s the location and price you want, then there is no reason it should be a bad option. However, you should do all you can before you buy, to make sure of its true condition. How can you do that?
Have the property inspected by a certified home inspector. By doing this, you will be getting a good idea of what you’re in for. Yes, it’s true, the home may well have obvious signs of work needed but some of the major problems might not be so visible and a home inspector will be able to determine areas of concern. This could possibly save you a lot of money in the end.
You may be living in an area where the seller is legally required to provide a written disclosure as to the condition of the property. Does this mean there is no point in having the home inspected as well? These types of disclosures are not always as comprehensive as they should be and the home owner, if they are less than honest, may well leave out important information. In such a case, its best to err on the side of caution. The home inspection will also give you an idea of the trustworthiness of the seller, if they find problems not listed in the disclosure.
So, purchasing a home listed “as is” could be a good option for you, depending on what you’re looking for but, make sure you take every precaution before you buy, to ensure you know what you’re getting.
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