Profile picture for mmahoney47

can a house be sold "as is"

  • June 14 2013 - Wilmington
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Answers (18)

Profile picture for RafaelAPRG
The seller has the right to list "as is" but has to let the buyer or their agent of any known issues. Give me a call or email me and we can discuss further.
  • October 26 2013
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A home can be sold as is but that does not relieve the seller from disclosure.  If a seller is aware of any issues with a home they must disclose them.  They don't need to repair them but they must disclose them.  If an agent is aware of any issue with a home they too must disclose them.  In buyer and selling homes the Golden Rule is Disclose, Disclose, Disclose.  If all parties are aware of any issues this relieves any future problems that may occur.  I find it very funny how the many "House Flippers" think they can sell a home as-is and that relieves them of any issues, that is not true if they are aware of an issue and don't disclose a buyer can come back at them.
  • October 26 2013
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Profile picture for j3350489
yes ... All it means is the seller will not do any repairs
  • October 26 2013
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Yes it can....usually you will see that kind of wording, if it is bank owned, foreclosure...that kind of situations. Those kinds of listing most likely you cannot put a home inspection contingency with your offer. If you see a listing advertise"as is"  I am sure your buyers agent will do some homework for you before you go and look!
  • October 26 2013
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Hello, 
The short answer is yes. You are the seller and you can choose to list it with it being "As-is", Meaning no repairs to be made that the buyer accepts it in it's current condition.

 The next part of the answer with that being said the other issue is the lender for the buyer. Most FHA,VA and RD, THDA loans will require the home to be in "turn key" ready condition. That means it's move in ready. No torn carpet, holes in the walls, leaks, roof leaks, rotting wood, peeling paint on the exterior and a few more things. It does not have to be new and beautiful but, ready to move into without repairs. The appraiser will generally catch anything like that when they come to appraise the home and will make note of it for the bank. The underwriter will not let the loan go through unless those issues that they noted are corrected, they (the appraiser)  will generally go back to check that the work was completed (there is a fee as well to do that) If the repairs are not done the loan will not go through for the above mentioned loans and the buyer or bank can be out the $350-$450 fee for the appraisal. Cash, 203k and conventional loans as well as "in house" bank loans can be and are popular for the As-is home. Hope this helps. Have a blessed day! 
  • October 25 2013
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Yes you can.  This put the burden on the buyer to make sure he/she is satisfied with the property after the appropriate inspections.  
  • October 25 2013
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The quick answer is yes, yet in most states, buyers can always have an inspection done, which should show what the house may (or may not) need. Thus the buyers may or and may not move forward based on said repairs and the fact the home is "As-Is". There are many reasons to list a property as such, however, you want to discuss the best game plan with your agent, so that you can properly reply when asked about the "as-is" request or addendum.
  • October 23 2013
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Hi,

Actually all homes are sold "as-is." Any repairs and requests after you enter into a contract is a new negotiation. If you are asking about removing the home inspection contingency entirely, I would suggest that you do get a home inspection yourself and have it available to buyers. 

Otherwise, list the home and if there are requests for repairs...you can decide then if they are worth doing to keep a buyer happy or if you are prepared to risk losing these buyers.

Karen
  • October 23 2013
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I would always suggest doing "as is" with inspections welcomed. It allows you to give the buyer a chance to do the home inspection, but you will not repair any items. The buyer can only move forward with the transaction after inspection or declare the contract null and void. It gives the buyer a peace of mind.
  • October 23 2013
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Seller may list home as is buyer may go under contract to buy as is good luck
  • October 23 2013
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Yes you can say your house as is.  If the seller and buyer agree on a price and the house is sold as is it is what it is.  Good Luck.
  • October 23 2013
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The answer to this may vary. Yes, the house can be sold "as is" however, as a seller, you might want to ask if you have potential buyers for your house in its "as is" condition.

As a buyer, you can buy a house "as is" but you also have to consider the current state of the house. If it is habitable or not, if it need major repairs or just cosmetic repairs. And so on...
  • September 29 2013
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Profile picture for LisaAndrews1
Yes it can be sold as-is, just be aware that you still need to be truthful when you fill out a Seller's Property Condition Disclosure Statement.  Also, the term "sold-as-is" (if used in advertising) is a bold statement that the property has some differed maintenance issues. I have sold homes as-is, and as long as all parties agree, it's not a problem.   
  • June 14 2013
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Profile picture for SoCal Engr
I am not a RE pro, but I think the better question is...

Can a buyer purchase the house "as is"?

If the buyer is financing, there are some issues a lender will not overlook.
If the buyer is not financing, then it's up to the buyer to decide.
In some cases, a 203K loan can be used to buy/fix.
  • June 14 2013
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the short answer is yes but be aware, talk to your buyer's agent if you are buying to get more informed.  If you are the seller then talk to your listing agent for liabilities/disclosures..... if you need more info you may contact us through our profile we cover Wilmington.  Best of luck
  • June 14 2013
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Profile picture for Praful Thakkar
In this market (or even when it was buyer's market), the answer is more of a question: Why not?

It just needs one buyer to come up with the offer to sell the home and as long as it is disclosed, this can be done.
  • June 14 2013
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Yes.
  • June 14 2013
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Profile picture for Ruslan124
Yes of course it can. 
  • June 14 2013
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