DO you think we would have a better chance at negotiating the price? Ia m not sure what exactly is wrong with it yet. If something is called 'As-Is' nowadays is it really bad? This one is in Good condition being sold as-is.
kpny622
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Re: If a house is being sold As Is...
I think that most houses are sold 'as-is' and that is what is in the standard form of contract too, so I don't think it's necessarily a red flag.
But, sometimes buyers ask the sellers to fix stuff before closing and the seller agrees. So, if the seller specifically stresses as-is to you, they may not be agreeable to that. In which case maybe you would have a better negotiation position.
Either way, you need to get a full inspection before buying anything anyway so hopefully you would be told if there was anything seriously wrong.
lesleyw
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Re: If a house is being sold As Is...
All of the homes I have seen being sold 'As is' have been in very bad condition. They might not all be that bad, but in my experience all of them needed a lot of work.
julz33
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Re: If a house is being sold As Is...
This one looks like it needs work from the outside. I didn't see the inside yet. I am wondering if we should bother
DjPiLL
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Re: If a house is being sold As Is...
I wouldn't bother unless you FH or yourself are quite handy.
nov04LIbride
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Re: If a house is being sold As Is...
Posted by julz33
This one looks like it needs work from the outside. I didn't see the inside yet. I am wondering if we should bother
Hey Julie! Are you still looking on Long Island or are you looking to move?
btrflygrl
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Re: If a house is being sold As Is...
As Is refers to any problems found at an inspection cannot be negotiated....they will be your responsibility upon ownership
julz33
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Re: If a house is being sold As Is...
Can you change your mind after inspection?
julz33
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Re: If a house is being sold As Is...
Posted by nov04LIbride
Posted by julz33
This one looks like it needs work from the outside. I didn't see the inside yet. I am wondering if we should bother
Hey Julie! Are you still looking on Long Island or are you looking to move?
Both!
btrflygrl
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Re: If a house is being sold As Is...
I'm not sure if you can back out after inspection....I'd ask the selling real estate broker or the broker that is working for you how it works.
TwoBugs
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Re: If a house is being sold As Is...
Posted by julz33
Can you change your mind after inspection?
We put a contingency clause in our contract. It cost us one house (we lost to someone with no contingencies) but it saved us from buying another home with severe structural damage that went undetected until the inspection.
I agree that buying a home 'as is' doesn't make sense unless you are very handy and want a fixer-upper.
butterfly20
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Re: If a house is being sold As Is...
most of the houses i have been seeing are as is.... and some of them didnt need much work at all.....
i think its because there seems to always be someone who will buy it that way, and its easier for the seller...
Misha
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Re: If a house is being sold As Is...
Posted by btrflygrl
I'm not sure if you can back out after inspection....I'd ask the selling real estate broker or the broker that is working for you how it works.
Usually you have your inspection done before you go to contract so you can back out. You pay for the inspection though and do not get that money back if you back out.
In your binder offer, you want to make sure it says 'contingent on engineer's report/inspection' something to that effect. If your offer is accepted, you are usually expected to have your engineer scheduled to come in the next few days.
As-Is can mean a number of things but even if a house is listed as 'as-is' the house is still expected to be free of leaks, structurally sound and have working heat (unless disclosed prior). Also, seller is still responsible if there are termites.
julz33
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Re: If a house is being sold As Is...
According to the RE agent the whole house needs to be redone as far as carpets, painting, cosmetic stuff. Thats OK with us as long as it is nothing major. I am always suspicious of people lying though We are going to see it on Sunday so I'll let you all know how it goes.
