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What should I know before buying property "as is"?

asked by anime018 (15)

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Tags:  real estate

answers

You may want to have a property inspection before signing anything. If you are aware that work is needed, then an inspection can insure that there are no other problems that are too big to fix. Foundation problems and other items can cost more than you are willing to spend. As is means no recourse.

7 votes

It depends upon the type of sale you are involved in. A property purchased "as is" at a foreclosure auction may have tax liens or any other issues, and you usually cannot do a home inspection on a foreclosure. With a property listed by a broker "as is," carefully review the home inspection report

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posted by nekturk (133)
7 votes

'As Is' means completely as is with no warranty of condition. You should get the property inspected by a professional or accept the property's condition willingly before entering a purchase agreement.

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posted by Devin98 (245)
7 votes

You need to be careful when buying property "as is". It basically means that you are buying the property the way that it is. If the house needs repairs or is falling apart you are responsible for fixing it. The seller has no obligation to fix it. Negrita

5 votes

Have at least two thorough inspections done by inspectors of your choosing. Have a full list of all necessary repairs and possible damage.

5 votes

The "as-is" clause means just that. You need to have inspections done before you write the contract if you are worried about it.

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posted by Jodie (434)
4 votes

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