Sold As-Is

Have you run across a house where the agent tells you that the house is sold as-is? Or maybe you are marketing your home and saying it is sold as-is? What does this mean as a buyer and what should everyone expect with an as-is home sale? Well, just to get right to the root of this, on the Residential Purchase Contract that we use here is southern California, there is a section called "Condition of Property" where is states the home will be sold in it's present physical "as-is" condition...So to have someone say they are selling their house "as-is" is really just reiterating what is already stated. But does that mean that we, as buyers, can not ask for anything to be fixed or monies for repair?

Here is the answer to both buyer's and seller's questions when it comes to "as-is" and asking for things after an inspector gives you a report: As a buyer, you may ask. The seller is not obligated to do any repairs or give credits or money. As a seller, you can advertise that your house is being sold "as-is". This does not mean a buyer can not make requests. Don't forget that any buyer who sees your home, is looking at is from a non-professional-inspector's point of view. They can only see things in your home that are noticeable and only make educated guesses about what those things may be. But when an inspector comes in and gives their professional report on a home, things may be discovered that a buyer would have no way of knowing about previously. And that can affect a buyer's opinion of whether or not this home is still a good purchase. Your best bet as a buyer and seller is to give a little wiggle room on both sides. If you think that, as a seller, you can put your foot down and say that you will not make any repairs, you risk the chance of loosing your current buyer, as well as others that come after. And as a buyer, if you think that the seller should absolutely make repairs or give you money, you risk loosing a home and having to find another. So my advice is, to both buyers and sellers, do not go into any transaction with a hard-fast stance on how you intend to go about a sale. Things change, discoveries are made, and people change their minds. So try to work with knowing these things and your home buying and selling process with go a lot smoother.