Seeing “as is” on a home listing can make some homebuyers nervous. The
first thought often is, “what’s wrong with the home”? In fact, the term “as is”
should not scare you away from a home that otherwise looks like a good fit.
Understanding the term, its use, and how to approach the situation can
lead to a great deal and good investment.
First, “as is” does not necessarily mean “fixer-upper,” even though this is a
common belief. Most often, the term “as is” is simply the seller’s way of
letting prospective buyers know that they do not want to be bothered
making minor repairs.
Writing an offer on an “as is” listing does not mean that you agree to take
the home in any condition, nor waive your right to have inspections. It’s
important to do thorough inspections and investigations of any home you
consider buying. After carefully reviewing the condition of the home, you
can still request repairs or credits during your inspection period, even on an
“as is” home listing. The sellers may or may not agree to do some repairs
for major issues to ensure the conclusion of the sale.
Finally, some homes are in such poor condition that the “as is” description
is a true warning. These homes may not qualify for traditional financing and
require serious consideration about the cost and effort to repair. Most of the
time, if the home appears to suit your needs, you can feel confident moving
forward with the process. “As is” does not need to be scary and it does not
mean you can’t still make informed decisions after an inspection.
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