Back HomeShould You Ever Buy A House That Is An “AS IS” Property?
It really depends on the house and the situation. There may be two reasons a house is marketed as an “As Is” Property. The first may be because the seller just doesn’t have the money to make the necessary repairs, and wants to get out from under the cost of repairing the property.
The second reason is much more difficult. A word of caution is in order. The house may have serious problems! Something serious may be defective…so buyers beware. Generally speaking, an “As Is” property tends could have a major structural or functionally obsolete (i.e. expensive!) problem. Typical problems may range from a faulty roof, termite damage, problems with the foundation, leaking pipes or other plumbing problems, to problems with the electrical or mechanical systems to name a few.
It is in the buyer’s best interest to have a full home inspection completed and all the problems documented, so that the buyer is aware of any potential problems with the property.
