Advice For Buying As-is Homes

Asis homes can become sticky situations. And as Realtors we try to avoid working with asis homes because they are notorious for major problems not to mention liability. Fortunately we can say that weve never encountered such problems simply because we avoid the situations altogether. But all Realtors have heard horror stories about an agent who either found himself in a legal suit over the property which is the worst Ive heard or an agent who had such a difficult time working with the seller that he and his client had to back out of the contract.

There are two main cautions with asis homes. First the sellers are not willing to make any repairs to the home. Thats where the name comes from of course the buyer is getting the home as it is with no ifs ands or buts. Sellers who choose to list their home as an asis are usually inflexible to the point of being stubborn. They just want to sell the home and get out of it.

This is the reason that so many asis homes become problematic. In these cases it is crucial for buyers to have a buyers agent someone who represents them and only them in buying the house. And this agent needs to have plenty of experience in order to protect the buyer during the buying process. Why? Because a lot of buyers get taken advantage of in asis sales. They buy a house from a seller who is not willing to work with them to get the home in proper order before closing. Since price is about the only thing thats negotiable in asis sales its possible to estimate the costs for repairs and negotiate this amount off the asking price. However its best to get these problems fixed as you would do in a typical sale before you officially own the home.

The second caution with asis homes is that they usually require a lot of work to be done. This problem is also partly because the seller just wants to get rid of the home and doesnt want to bother with making repairs or updating parts of the home. After all making these repairs can be expensive and time consuming. Its understandable why a seller would simply want to sell and not mess with these potential headaches. Theres a reason that these homes are sometimes synonymous with the term handyman special they need a whole lot of work!

And even if the home doesnt need major repairs its practically guaranteed that it will need at least some attention. Its rare to find a home that doesnt need any work done to it. Even homes that are practically new need some kind of repair before move in. The best way to protect yourself from this caution is to get a good home inspector. Dont ever rely on just the sellers disclosure to learn about the condition of the home. And this tip applies to asis homes and regular home sales. Your agent should be able to recommend an experienced and thorough inspector so that you can be sure of the repairs that need to be made before you buy.

So if youre considering buying an asis home there are two things you should know. First you should go into the situation expecting that the seller is probably not willing to negotiate on anything other than price and closing date of course. The best way to protect yourself in an asis sale is to have an experienced buyers agent. Second know that the home will probably need a lot of work done to it. The best way to know what needs to be done is to get a detailed home inspection.

About the writer:  Lee Keadle is a Realtor in Charleston SC. He works for Carolina One Real Estate South Carolina and specializes in the Mt. Pleasant South Carolina area!

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