What Does As Is Mean in a Home Sale -
Is It Always Fixed in Stone?
Home sales can be difficult for sellers as the emotions and monies dance around in their heads. So some sellers want to sell their home 'as is' which means what you see is what you get. The sellers do not want to pay for any repairs that the buyers may find during the home inspection process. This is true in RI real estate as well as all over the country. There are many reasons for the home sellers stance here: the buyer can see what is wrong when they go through the house, I lived with it and so can you, a foreclosure bank says it is as it is make your offer accordingly, etc.
Yet what most home buyers may not be aware of is that in some cases the sellers will back off on their 'as is' stance as they review the offers for their home. Or the sellers find out during a pre home inspection there are many things that are deficient in their home. If the sellers have a good real estate agent advising them it is good to push the sellers a bit here. Making a seller aware that if they take care of some items that will come up that can be deal breakers especially to FHA loan buyers (you want a wider buying audience always). Such things as a septic, peeling paint, fuses to circuit breakers, radon in water or air are some items to consider.
My experience has been that in many cases pushing banks on foreclosures to do work such as a radon water mitigation system in order to close a house works. Yes, you can push them and you need to try so talk to your agent about it.
Yet it truly comes down to doing a decent review of as much as you can see at the house, bring a contractor with you that is trusted, going through state and town records to dig for house facts, ask specifically about certain items that concern you and make your offer accordingly. What are the home values in the neighborhood that can sustain the improvements you will need to make? Always do your homework!
Let's hope your success with 'as is' homes works well for you. It never hurts to push as a home buyer remember that point.
The 'as is' statement in selling homes is distinct.
When you are in need of a top selling North Kingstown real estate professional and specialist for your buying, selling or relocating home needs and an internet savvy real estate agent & marketer who sells RI houses in this real estate market call Ginny Gorman at 401.529.7849 or email me at ginny@RiHouseHunt.com. I am a North Kingstown specialist and know all of South County like the back of my hand.
This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ... I sell dreams! Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.
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cell: 401.529.7849 Ginny Lacey Gorman, Realtor