In this new age of foreclosures and short sales, more and more homes are offered “as-is.” For the prospective home buyer, it’s now essential to understand what this means. Buying a home as-is sounds like it would be a disadvantage, but it also has a number of benefits that could play to your favor.
First, what does it mean to buy a home as-is? It means that you are buying a home exactly in the condition that it appears, and the sellers aren’t making any warranties about the condition of the property. If there are things wrong with the house, from cosmetic damage to major structural issues, they will be the responsibility of the buyer to repair. In other words, as the house’s new owner, its problems are your problems.
Homes that are in foreclosure and short sales are typically sold as-is. In both cases, the seller is taking a loss on the property and understandably doesn’t want to sink more money into making repairs. In the case of foreclosures, the seller (usually a bank) hasn’t lived in the property and isn’t in a position to know everything that’s wrong with the house. Since foreclosures and short sales frequently occur below market value, it’s understood that the buyer will have to repair any issues at his or her own expense, adding to the costs involved when buying a house as-is.... Read More of Article
Hire a Real Estate Professional when you are ready to buy your home. Contact the Hoffman Home Team Today 303-539-5395 Hoffman Home Team Website
There's so much useful information in this post.interested in kiwisaver first home I'm so happy you posted it. I've gotten some of this story previously in bits and pieces.
ReplyDelete