When exploring your house-buying options, you may well come across a property listed for sale as is. What does this mean if you were to buy a home listed as is? And will it be a good investment?
A property will be listed “as is” for a few reasons. Much of the time, it is because the homeowner does not want to take any responsibility for the condition of the place after it is sold. Another reason may be that the owner does not want to spend any money fixing up the home to get it ready to sell. So, should you assume that this type of property is a bad choice?
Whether or not the property is a bad choice will really depend on the person buying it and their budget and expectations. If the house is within your price range and in the location you desire, then it could be a good option. However, you will want to find out the true condition of the home before making your final decision. Just walking through the property may give you some idea, but it won’t tell you everything, so you will need to have the home thoroughly inspected.
Even if the homeowner has to provide a written disclosure regarding the property’s condition, you should still have the home inspected. Sometimes important information has been omitted from the disclosure, which may turn your good investment into a bad one.
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