If you have been on the market here in Orange County, you probably have seen a lot of homes being sold in “as-is” condition, as many sellers list their homes and don’t want to do any repairs before closing. This means there are no guarantees that everything is in working condition, but it doesn’t mean that the home comes with a lot of issues either.
Per the Residential Purchase Agreement, homes sold in “as-is” condition are subject to buyer’s investigation rights. So as a buyer, you have options. You can accept the home, negotiate repairs or credits, or cancel the contract.
- What Does ‘Sold As-Is’ Mean?
Homes ’Sold As Is’ means there are no guarantees from the seller that everything in the home is in working condition, and they’re not required to provide a Seller’s Disclosure. “As-is” properties may seem like a bargain, but the truth is that most contain hidden issues that may cost thousands in repairs.
You gotta keep in mind that If you buy an “as-is” home and later find major problems, you’re responsible for the repairs.
BOTTOMLINE
If you think an ‘As Is’ home might be right for you, knowledge is power. You have to take plenty of time to schedule expert inspections and understand the real condition of the home before you decide to buy. If you feel that you’re ready to take a step toward buying an “as-is” home, let’s connect! Give us a call at 714.251.3612 or email at [email protected]
