Perhaps you have seen properties on the market for sale “as is” and wondered if it is a good idea to purchase a home in this way. Let’s look at some of the ways you can be successful when purchasing a property like this.
Very often a seller will want to sell a property this way so as to avoid being liable for any potential defects or because they don’t want the expense of fixing it up to sell. If the price is right for you, this could be a great investment but there are some things you should do before you hand over your hard-earned cash.
Hire a home inspector to take a look at the property. Although it comes “as is” its good to know exactly what your letting yourself in for and, while you will be able to see the obvious problems, you will need a more thorough inspection to see those hidden issues.
But what about those States that require a seller to give you a written disclosure which shows the condition of the home? Surely its not necessary to have the home inspected as well is it? Very often, a seller will omit important information regarding the condition of the property so, even if you receive a written disclosure, it might not be all you need. A home inspector will find out if anything has been left out of the disclosure. If you find this to be the case, you might want to walk away from the deal.
Yes, buying a property “as is” can be a great option but, be cautious, have a home inspection performed first. Although it may seem like a needless expense, it could end up saving you thousands.
Very often a seller will want to sell a property this way so as to avoid being liable for any potential defects or because they don’t want the expense of fixing it up to sell. If the price is right for you, this could be a great investment but there are some things you should do before you hand over your hard-earned cash.
Hire a home inspector to take a look at the property. Although it comes “as is” its good to know exactly what your letting yourself in for and, while you will be able to see the obvious problems, you will need a more thorough inspection to see those hidden issues.
But what about those States that require a seller to give you a written disclosure which shows the condition of the home? Surely its not necessary to have the home inspected as well is it? Very often, a seller will omit important information regarding the condition of the property so, even if you receive a written disclosure, it might not be all you need. A home inspector will find out if anything has been left out of the disclosure. If you find this to be the case, you might want to walk away from the deal.
Yes, buying a property “as is” can be a great option but, be cautious, have a home inspection performed first. Although it may seem like a needless expense, it could end up saving you thousands.
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