By: Jerika P – i-Lead Realty Social Media Manager
Buying a house “as is” means that the seller is unwilling to make any repairs or improvements to the property, and the buyer is taking the property in its current condition. Here are some things to consider when buying a house “as is”:
1. Get a home inspection
Even if the seller is not required to make any repairs, a professional home inspection is still a good idea to identify potential issues that may need attention. This will help you make an informed decision and plan for any future repairs or improvements.
2. Research the property
Conduct research on the property, such as the history of the house, any past damage or repairs, and any permits or code violations that may be associated with the property. This can be done by reviewing public records, talking to neighbors or previous owners, and looking at online resources.
3. Consider the cost of repairs
As you inspect the property and review any reports, make a list of repairs and improvements that are needed. Get estimates from contractors or service providers to understand the cost of repairs and factor that into the purchase price and your budget.
4. Know your legal rights
When buying a house “as is,” it’s important to understand your legal rights and responsibilities. Work with a real estate attorney to review the purchase agreement and ensure that it protects your interests.
5. Plan for contingencies
When purchasing a house “as is,” be prepared for unexpected issues that may arise after the sale. Plan for contingencies by setting aside a budget for unexpected repairs and having a plan in place in case anything major comes up.
Remember that buying a house “as is” can be risky, but it can also offer opportunities for a good deal on a property that you can fix up over time. Do your due diligence, and work with experienced professionals to ensure that you are making an informed decision.
If you are searching for a Real Estate Professional or would like to learn more, you can contact us here.
Not sure if you want or need to use a realtor? Here are 4 reasons why you should. Watch the video here.