{"id":679,"date":"2021-10-21T14:47:59","date_gmt":"2021-10-21T21:47:59","guid":{"rendered":"https:\/\/yourwhiteknight.com\/reno\/?p=679"},"modified":"2021-10-27T09:08:31","modified_gmt":"2021-10-27T16:08:31","slug":"what-every-buyer-should-know-about-as-is-home-sales","status":"publish","type":"post","link":"https:\/\/yourwhiteknight.com\/reno\/2021\/10\/21\/what-every-buyer-should-know-about-as-is-home-sales\/","title":{"rendered":"What Every Buyer Should Know About \u201cAs-Is\u201d Home Sales"},"content":{"rendered":"\n\n
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Today\u2019s real estate market means homes are going for top dollar, above listing price in many cases, and selling fast. For buyers, this means you\u2019re not likely to find many \u201cdeals\u201d out there on the market. That is unless you update your search criteria to include \u201cas is\u201d properties. However, what does this actually mean in a home purchase? After all, this isn\u2019t a snagged sweater you\u2019re grabbing from a bargain bin; a home is probably one of the largest investments you\u2019ll ever make. So, what does \u201cas is\u201d really mean when it comes to property? Here\u2019s what every buyer should know about \u201cas-is\u201d home sales.<\/p>\n<\/div>\n\n

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What Exactly is an \u201cAs-Is\u201d Home?<\/h4>\n<\/div>\n\n
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The term \u201cas is\u201d usually refers to a buyer purchasing an item in its current condition. It also means that the buyer is willing to accept this item\u2019s faults and all. Yes, even faults that might not be apparent to the buyer. However, it\u2019s not all bad news.<\/p>\n<\/div>\n\n

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Why Sell a Property \u201cAs-Is?\u201d<\/h4>\n<\/div>\n\n
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According to real estate agent, Katie Messenger of Bello Dimora Real Estate Network<\/a>, \u201cNot all as-is properties are distressed,\u201d Financial concerns are a common reason that sellers choose to list a home as-is, removing them from the responsibility of repairs and the sometimes-costly fixes from home inspections. Or sometimes, the seller lives elsewhere and doesn\u2019t want to deal with managing the repairs before selling. Other times the home is in good condition, and it\u2019s an estate, so the executor may just want to sell the home and move on with as little hassle as possible,\u201d Messenger says.<\/p>\n<\/div>\n\n

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Another reason to sell \u201cas-is\u201d is if the home is in foreclosure. The previous owners may not have left the property in a desirable condition. If that\u2019s the case, the bank that owns the house may not want to make costly improvements on the property.<\/p>\n<\/div>\n\n

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Get the Home Inspection<\/h4>\n<\/div>\n\n
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When buying an \u201cas-is\u201d house, it\u2019s crucial you have a professional inspector assess the property. If a costly repair is revealed during a home inspection, you still have the opportunity to walk away, and with minimal costs. BPG Inspections<\/a> offers a great home inspection checklist to help you make sure you\u2019re getting the thorough inspection your investment deserves.<\/p>\n<\/div>\n\n

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According to quickenloans.com<\/a>, a buyer \u201cwon\u2019t have as many financing options buying a property as-is. lenders don\u2019t want to finance a property in bad condition. This is risky for them. If the condition worsens to the point where the property loses considerable value or is unlivable, the mortgagee may not want to pay back the loan.<\/p>\n<\/div>\n\n

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Buying \u201cAs-Is\u201d Property is Not For Everyone<\/h4>\n<\/div>\n\n
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If you love fixing and flipping houses, buying an \u201cas-is\u201d home is a good bet. If you\u2019re familiar with home improvement projects and are comfortable making major repairs, also good. But remember, \u201cas-is\u201d properties are not for everyone<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Today\u2019s real estate market means homes are going for top dollar, above listing price in many cases, and selling fast. For buyers, this means you\u2019re not likely to find many…<\/p>\n","protected":false},"author":3,"featured_media":680,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"class_list":["post-679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/posts\/679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/comments?post=679"}],"version-history":[{"count":0,"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/posts\/679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/media\/680"}],"wp:attachment":[{"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/media?parent=679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourwhiteknight.com\/reno\/wp-json\/wp\/v2\/categories?post=679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}