Is purchasing a property listed “as is” a wise choice? Before we answer that, its good to look at a couple of the reasons many sellers decide to sell their home this way. Very often, they don’t want to go through the hassle of fixing it up just to sell or they many even wish to avoid being responsible for any problems that come with the place.
As to it being a wise purchase, that’s up to you and how you go about the deal. If you find a “as is” property that you like for the right price, it can be a great choice. But, there are some things you should do before signing on the dotted line. What are some of those things?
Its important that you get the property inspected by a certified home inspector. While its true you are buying the home in its current state, you may have only noticed the more apparent problems with the place. A home inspector will be able to give you a better idea of the homes true condition.
There are certain States that demand the seller of the property to give you a written disclosure that tells you the condition of the home. If you live in one of those States, perhaps you feel that its not necessary to have a home inspection performed as well, but, sometimes the seller will leave out important information regarding the state of the property. Having a home inspection done will not only show up any areas omitted in the disclosure but will also give you an idea of the kind of person you’re buying from and help you decide whether or not to walk away from the sale.
So, as we can see, purchasing a property “as is” can be a wise decision if you act with caution and do all you can to get an idea of its true condition.
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