Selling a home as-is usually means the seller doesn't plan to
complete repairs or offer the buyer any credits toward necessary improvements.
In short, the property is available in its current state with the expectation
that the buyer will assume responsibility. It's worth noting that this
arrangement can simplify negotiations. However, it doesn't eliminate disclosure
requirements. Sellers still need to share any known issues, and the buyer
retains their right to inspect the property.
If you're the one buying, it's wise to bring in a professional
to inspect the foundation, roof, and key systems such as heating and cooling.
Keep an eye out for water damage and any safety issues that might affect your
ability to get financing. If the property seems unkempt, it's probably a good
idea to move on.
Conversely, if you're thinking about selling your home without
making any repairs, keep in mind that you'll probably have to price it lower
than comparable properties nearby. Homes sold as-is do find buyers,
particularly those interested in renovations. However, it's wise to leave some
room for negotiation.
In the right circumstances, an as-is sale can be a win-win for
everyone. The seller benefits from a shortened sales timeline, while the buyer
might snag a great deal. Just make sure you have a trustworthy real estate
agent and property inspector representing your best interests so you feel
confident signing the contract.
Sources: Firstchoicehomebuyers.com, Realtor.com, Zillow.com
Team Lasson is here to assist with
all of your home buying needs! If you’re
considering taking the leap into home ownership in the near future, we’re here
to help. Contact us today to explore
which loan program aligns best with your financial goals.
The first step in preparing for your big purchase is to get
pre-approved for a mortgage at Lake of the Ozarks. Visit www.yourlakeloan.com or
call us at (573) 216-7258 to get started today!
Michael Lasson
Senior Mortgage Banker
NMLS #: 493712
Flat Branch Home Loans – Team Lasson
2882 Bagnell Dam Blvd
Lake Ozark, MO 65049
Cell: (573)
216-7258
Email: teamlasson@fbhl.com
Website: www.yourlakeloan.com
**The
postings on this site are my own and do not necessarily represent Flat Branch
Home Loans positions, strategies, or opinions.
Flat Branch Home Loans
NMLS 224149. A Division of Flat Branch Mortgage Inc.
For more licensing
information, visit NMLSConsumerAccess.org
