Buying Home As Is

A)There is 99% chance that you will be purchasing your future home in “as is” condition. It absolutely doesn’t mean “buyer beware”. You are not stuck with “lemon” just as soon as you sign contract. You will notice clause on the offer form , that gives you opportunity to inspect home after you and seller execute contract. Most likely you are going to have between 7 and 10 days to do it. You can inspect property on your own, but my advise is to hire licensed professional. AS IS means only that if this inspector finds any issues with home, seller is not required to make any repairs. If something like that happens (problems), you have several choices: you can accept condition of the home and move forward with deal. You can cancel contract without any penalties. You can ask seller to make some repairs (he just doesn’t have to). Or you can renegotiate sale price.

If there are any issues that arise between inspection and closing, seller will be responsible to bring home to “inspection” condition.

Also- remember- seller has to disclose any material defects that affect value of property. It is not a question of trusting someone or not. It is ILLEGAL to hide issues.     

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Buying Home As Is

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