"As-Is" Homes For Sale

A listing that is advertised as an "as is" sale can be a put-off to buyers. They might assume that something major is wrong and might be costly to repair. If they don't have much free time or extra money, they might decide not to even look at the property. Sometimes sellers list the property "as is" because they don't want to deal with paying for any repairs that might come up in the inspections. This might not be the best way to market your home since you may not get as many showings just by having it advertised that way. The repairs and costs are always negotiable into the final contract. Sellers will be in a better position to sell in today's market if they have the work done before they put their homes on the market.
An "as is" sale can also mean that the property is part of the estate of someone who died. Some properties are sold in their "as is" condition and without warranty in order to protect the heirs who might know nothing about the property. "As is" doesn't necessarily mean there is a problem.
When a bank forecloses on a property, the sale is usually an "as is" sale. As with an estate sale, the bank might know nothing about the condition of the property. It's up to the buyers to satisfy themselves before buying. Homeowners who let their homes go into foreclosure because they can't afford to make the mortgage payments also might not have enough money to keep the home well maintained.
If you are considering buying an "as is" property research the reason why it is being sold that way and don't skimp on inspections. The money will be well spent even if the deal doesn't go through if it keeps you from buying a property that needs more work than you can afford to pay for.