Profile picture for user24071179

Considering buying another home. We also want to sell our current older home.

Does the term "sold as is" ever apply when selling an older home ? What "defects" do you or are you obligated to disclose..??
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 21 2013 - Nampa
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

Sold as-is is just a heads up to buyers that you aren't interested in a big repair list after inspections.  Provide the seller disclosure up front before it goes under contract and maybe there won't be too many surprises to the buyer during the inspections.  It increases the possibility of a smooth transaction for you.  Good luck. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 22 2013
In Colorado, as long as you disclose any issues on the "Seller's Property Disclosure", you could sell the property as-is.  Of course, there are a few exceptions for blatantly hazardous conditions... such as former meth labs, homes with mold, structurally compromised homes,  etc, that would require qualified remediation prior to the home being legally sold. 

With regard to financing, FHA loans will not allow a home to be sold until certain minor "health and safety" issues are properly addressed.  Things like missing flooring, missing handrails, peeling paint, wiring issues, plumbing issues, etc, will kill an FHA loan approval dead in its tracks (unless repaired prior to the appraisal).  FHA appraisals are actually a hybrid between an appraisal and an inspection to some extent.  If the FHA appraiser notes any substantial safety deficiencies, they will require them to be satisfactorily remedied before the loan can be approved.

All of that being considered, a home listed as-is, simply means that you will not be willing to address any issues that arise in the buyer's inspection.  The buyer will still be entitled to perform an independent inspection, but should not expect the seller to perform any repairs.  Instead, the inspection results will give the prospective buyer the chance to "Take it, or leave it" with regard to the entire transaction.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 22 2013
Yes, you can offer your existing older home for sale "as is". However, if there are some things that are in disrepair that may limit the buyer's financing options.  The more restrictive the finance options are, the smaller the buyer pool and possibly the lower the price you can expect to receive.

Therefore, it is worth your time to meet with a professional agent that is familiar with doing a cost/benefit analysis to help you decide what (if anything) to do to maximize the sales price for you!

Idaho laws dictate that sellers do have to disclose certain things in the sale of a home (unless they are exempt).  These include but are not limited to: pest/water/fire damage,environmental issues, boundary disputes, electrical/plumbing issues, roof condition, etc.)

I would be glad to assist if you aren't already working with another Realtor.

Jim
 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 22 2013
You need to disclose everything you know or should know. 

Sold as is, doesn't really apply in Real Estate, the buyer can still ask for repairs or a credit; what it does is let the buyer know that you are more than likely not going to do any repairs or give them a credit if they ask.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 22 2013
 
Related Questions
What is the true value of my home?
Profile picture for Rick Phillips
Latest answer by Rick Phillips
June 17 | 7 answers
  • Asked by curtzplace
  • In Pricing
  • June 15
Are fences a pro or con?
Profile picture for JoEllen Ufner - ABR,GRI,SFR
Latest answer by JoEllen Ufner - ABR,GRI,SFR
June 13 | 9 answers
Considering buying another home. We also want to sell our current older home.
Profile picture for Diana Taylor
Latest answer by Diana Taylor
May 22 2013 | 4 answers
What is my home worth?
Profile picture for HomeSand.net
Latest answer by HomeSand.net
July 25 2011 | 2 answers
  • Asked by mobilizr
  • In Pricing
  • July 25 2011
how to delete a posting?
Profile picture for Ice L.
Latest answer by Ice L.
December 17 2009 | 1 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 10674 Pipevine Dr, Nampa, ID Home For Sale
    10674 Pipevine Dr, Nampa, ID 83687

     For Sale: $171,000

    • Beds: 4
    • Sqft: 2563
    • Baths: 3.0
    • Lot: 6098
  2. 1923 S Palamar Ct, Nampa, ID Home For Sale
    1923 S Palamar Ct, Nampa, ID 83686

     For Sale: $154,900

    • Beds: 3
    • Sqft: 1447
    • Baths: 2.0
    • Lot: 8276
  3. 2016 S Banner St, Nampa, ID Home For Sale
    2016 S Banner St, Nampa, ID 83686

     For Sale: $79,900

    • Beds: 3
    • Sqft: 1248
    • Baths: 2.0
    • Lot: 10890