Should I Purchase a Home in As is Condition?

Buying a home as is

When you are a buyer looking for a home for the first time it is not unusual to see all sorts of weird circumstances. One of the more common ways a seller will try to market their property is in "as is" condition. There are a few reasons why a seller may want to market their property in this fashion. The most common of course is that the owner does not want to be burdened by doing anything.

There are other reasons as well including that the owner is aware of problems they are not coming out and disclosing. Quite often most of these issues will be revealed when a buyer does a home inspection. Buying a home in as is condition is not overly risky as long as a buyer is doing their due diligence. This includes doing a home inspection by a qualified home inspector.

What buyers need to be cautious of is sellers flat out lying when asked a direct question about potential issues in their home. For example, if you ask a seller if they get water in their basement the answer should be completely truthful.

Disclosure laws can vary from state to state. In some locations sellers need to voluntarily disclose everything they know about a property. In others sellers are not. In these states it's "buyer beware" or caveat Emptor.

As a buyer purchasing an as is property you should always have your antenna up paying extra attention to potential problems. You should ask a lot of questions and make sure they are documented. That way you have something to fall back on if you run into problems after the closing.