What Does A House As-Is Mean?

When you’re looking for a house to purchase, you will likely come across some listings that will include terms like “as-is.” People’s reactions to these words differ as some see it as a red flag, or others see it as a diamond in the rough. The meaning Of House As-Is when dealing with real estate terms, an as-is home or property is listed for sale while in its current state. For first time home buyers, this means that whatever issue or problem the home has will not be addressed by the seller. Usually, when a buyer discovers something like a leaking roof, they can ask the homeowner to pay for it to be fixed. However, when a home is listed “as-is,” the seller will not be entertaining any repair item requests. The buyer can either purchase the home in its current state or continue searching for another property. When dealing with “as-is,” there are some things that the seller does not repair. These items can range from:

• Mold issues

• Structural issues

• Termite infestation

• Leaking roof, and so on.

Though sometimes the issue could be minimal, the owner only wants to sell the property as soon as possible. While you may be wondering if it is ideal to purchase such a home, it is not often a bad deal. Some of the “as-is” properties have been foreclosed on, and the banks no longer want to spend money replacing things in the home.

On a general note, most “as-is” homes sell for less due to the some defects, and the lower asking prices usually attract investors. Some “as-is” homes for example, may have broken windows or patios. Nevertheless, when you want to buy such a home, it is highly recommended to get a home before considering to purchase it.

I hope you found this post helpful. Do you need help searching for your dream home? Call me today. I am here to help.