Buying Or Selling An "As Is" Property
Posted by Larry Tollen on
Many real estate contracts these days contain “as is” clauses. The term “as is” is a signal that the seller makes no warranty as to the condition of the property and intends to make no repairs to the property prior to or after closing. It also often means that the seller will give no credits against the price for needed repairs. Foreclosure sales are almost always “as is” sales, since the banks that own the homes don’t want to put any more money into the properties. While I generally don’t recommend foreclosure deals, as-is property can be a good deal at the right price point if the buyer has sufficient cash reserves and/or the ability to handle any needed repairs.
Pros and Cons of Selling “As Is”
Why would you want to sell your house “as is”? You…
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Chapel Hill based real estate agent Larry Tollen has recently received two noteworthy distinctions for professionalism and customer service. Larry has been selected for the Angie’s List Super Service award for 2014—the second year in a row. Trulia has also recognized him for reaching a performance level that places him in the top 1% of real estate agents in the nation.
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