Scrolling through real estate listings is a great way to see what types of homes are for sale, as well as the prices of the homes, and while you are doing this, you might come across a couple homes that are listed for sale as-is. If you are interested in a home that is being sold like this, there are three important things you should know before you buy it.
As-is means you get the house exactly as it is
When you see a listing for an as-is house, the main thing to understand is that you will get the house exactly as it is if you decide to go through with buying the house. The owner of the home is not going to fix anything in the house for you. He or she is not going to repaint the house or offer to make any updates on the house. Now, this does not mean that the house needs work; however, in most cases, houses listed this way do need some work. These types of homes are often considered fixer-uppers.
Why homeowners sell this way
Secondly, you should understand why homeowners sell their homes like this, as this is not an overly common way to sell a house. The main reason homeowners do this is to avoid putting money into the home. The seller might be tired of fixing things around the house, or he or she may simply want to just sell the house the way it is because he or she does not want to take the time or effort to fix things that the house needs fixing.
You still have the right to certain things
The third important thing to know is that you still have the right to certain things if buying as-is. You have the right to get the home inspected for one, and you should do this just to find out what problems exist. Secondly, you have the right to a full-disclosure form. This is a form the seller is required to fill out, and it tells you more details about the condition of the home, the age, and the problems it has.
There is nothing wrong with buying an as-is house, but you should always take any necessary measures to know what you are getting before you follow through with the closing. You can ask your real estate agent about this to learn more and to start looking at home listings.