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Answers (8)
- Jean Curley, "JeanCurley"
- Contributions:4
The "as is" clause does inform you that the seller is unwilling to make any modifications and repairs to the home from what a home inspection yields. The "Offer to Purchase" is a legally binding contract so a contingency to protect yourself, such as contingent on buyer approval of home inspection, allows you to walk away should something be found that is concerning. I am not an attorney and you should discuss this with one if you have concerns. While the "as is" clause is stated in MLS, it does not mean you cannot attempt to talk to the list agent about the problems and still try to negotiate. There are too many unknown variables about the sellers situation, so a good buyer's agent is needed. Good luck.
- Mercedes Varela, "HelpUSell Van Nuys"
- Contributions:304
I always recommend buyers to do an inspection so they will know the overall condition of the property. A home listed "as is" is only the seller's inclination not to help buyer with the repairs.
Depending on the findings of the inspection, the buyer has the option to continue with the transaction or cancel.
Depending on the findings of the inspection, the buyer has the option to continue with the transaction or cancel.
- Saul Zavala, "Century 21 Saul"
- Contributions:69
As is means as is period. Any repairs that the inspector brings up will need to be addressed by new buyer...
- David & Maria-Nella Landman, "PrimeOne Realty"
- Contributions:101
As IS means that seller will not fix anything, you know it before moving forward with any purchase, you can do your inspection just to know if you will continue with the purchase, but at your own risk and expense, sellers or lenders will not fix, nor reduce the price for any material issue that may arise, and you know it in advance thanks to the "as is" or "as Shown" condition
- Bobby Quinn, "BostonBrokerageGroup"
- Contributions:159
Its always a good idea to do the inspection even if it is stated "as is". The seller may not be willing to repair items, but its good to know what you are getting into.
- Louis Wolfson, "Louis Wolfson"
- Contributions:173
The most important things to know when making an offer......
Subject to
1) a formal inspection of the premises by the buyer and or the buyers agents within xyz days (put a cost of repairs clause and $$$ in to protect yourself)
2) Subject to your ability to get financing
3) Subject to a mutually satisfactory purchase and sales agreement.
If you enter into an offer or agreement to purchase "as is" you are taking the property with all of its defects, ie: boiler, elect, sewer, roof,,,,,,,,etc
1st your Real Estate Professional should be guiding you on this. If you are doing it by yourself, then have your attorney provide you the forms and format he likes to best protect you.,
2nd get a good home inspector, again your Real Estate Professional or check the ASHI website (He will find plenty to renegotiate) remember this, just cause you find fault in a property you still may already be buying it at a great price. Only you and your Real Estate Profesional will know based on both your knowledge of the market.
Good Luck.
Louis
Subject to
1) a formal inspection of the premises by the buyer and or the buyers agents within xyz days (put a cost of repairs clause and $$$ in to protect yourself)
2) Subject to your ability to get financing
3) Subject to a mutually satisfactory purchase and sales agreement.
If you enter into an offer or agreement to purchase "as is" you are taking the property with all of its defects, ie: boiler, elect, sewer, roof,,,,,,,,etc
1st your Real Estate Professional should be guiding you on this. If you are doing it by yourself, then have your attorney provide you the forms and format he likes to best protect you.,
2nd get a good home inspector, again your Real Estate Professional or check the ASHI website (He will find plenty to renegotiate) remember this, just cause you find fault in a property you still may already be buying it at a great price. Only you and your Real Estate Profesional will know based on both your knowledge of the market.
Good Luck.
Louis
- sunnyview
- Contributions:25139
Nothing in most states as long as the owner is not deliberately concealing issues. As is in most states does not include fraud. Your agent or a RE attorney can give you the specifics for your situation and state. Careful inspections of as is homes are a given including every expensive area to fix" electrical, structural, pest issues, code issues, etc. It is easy to underestimate the costs on fixing houses in poor repair or with issues, so inspections help provide some protection to the buyer. If you are buying as is, seek the best advice you can get. If you are selling as is, make sure that it will protect you in your state under the law from future claims about known issues/unknown problems if the buyer is unsatisfied later.
- wetdawgs
- Contributions:26854
"as is" means that the seller has no intent of doing repairs. However, and inspection with significant findings that the potential buyer didn't notice on walk through can result in a withdrawal of the offer or a lowered offer price.
What "specifically" does " as is as shown" mean ?
require the seller to address ( fix/reduce $).
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