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3 Things You Should Know If You’re Buying A House As-Is

Buying A House As-Is
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Wheatland Realty Agent Nicole Tudisco wraps up her series on “As-Is” home sales by taking a look at it from the buyers point of view in Part 3 of a 3 part series.

 

So we’ve talked about sellers wanting to sell their house as-is in our last 2 posts – please check out Can You Sell A House As-Is? and When Should I Sell My House As-Is?.

But what if you are the buyer?

We’ve got you covered there too:

  1. First and foremost you have a right to a home inspection and please do not skip this for any reason! As-Is does NOT mean you don’t have a right to know exactly what you are buying, it just means the seller doesn’t want to spend money on repairs or take money off the purchase price to compensate for needed repairs.  Keep in mind sellers must only disclose what they are aware of.  They are not required to see if there are any health or safety hazards.  Disclosures are not enough to protect you and your investment.  Get that inspection!
  2. Ask your Agent if it is worth it to request repairs anyway.  Granted, the seller may not be willing to fix anything, after all, that is usually the reason people sell As-Is.  However sometimes, if the inspection issue is bad enough, you might be able to change their minds.  It’s at this point you are able to make an educated decision whether you want to move forward with the purchase, or pull out and get your earnest money deposit back.  Please don’t be overly concerned about spending money on an inspection only to find out you have to walk away.  Rather, look at this expense as a necessary part of any purchase.  It may just be the best money ever spent if it spares you from spending tens of thousands of dollars on “hidden” repairs.
  3. Do not go shopping for the cheapest inspector remember you are counting on them to tell you if this As-Is home is a lemon!  Please take a look at the list of recommended professionals we refer our clients to   I can’t say this enough:  please don’t skimp – get a quality inspector – you won’t regret it!

As a BONUS to this post, please see below where I provide some key questions for you to ask your inspector.

Bottom line is…

get a home inspection by a qualified expert inspector and if you don’t ask, you won’t receive!

If you are still unsure if buying As-Is is right for you, please call us.  We will give you our expert opinion based on your personal situation.

My best always!

Your Cure for the Common Realtor,

Nicole 

 

Bonus:  Suggested questions to ask your inspector…

Will your inspection meet recognized standards? Ask whether the inspection and the inspection report will meet all state requirements and comply with a well-recognized standard of practice and code of ethics, such as the one adopted by the American Society of Home Inspectors or the National Association of Home Inspectors.  Customers can view each group’s standards of practice and code of ethics online at www.ashi.org or www.nahi.org.  ASHI’s Web site also provides a database of state regulations.

How experienced are you? Ask how long inspectors have been in the profession and how many inspections they have completed.

How do you keep your expertise up to date? Inspectors’ commitment to continuing education is a good measure of their professionalism and service. Advanced knowledge is especially important in cases in which a home is older or includes unique elements requiring additional or updated training.

Do you focus on residential inspections? Make sure the inspector has training and experience in the unique discipline of home inspection, which is very different from inspecting commercial buildings or a construction site. If you are buying a unique property, such as a historic home, you may want to ask whether the inspector has experience with that type of property in particular.

How long will the inspection take? On average, an inspector working alone inspects a typical single-family house in two to three hours; anything significantly less may not be thorough. If you are purchasing an especially large property, you may want to ask whether additional inspectors will be brought in.

What’s the cost? Costs can vary dramatically, depending on your region, the size and age of the house, and the scope of services.

What type of inspection report do you provide? Ask to see samples to determine whether you will understand the inspector’s reporting style. Also, most inspectors provide their full report within 24 hours of the inspection.

 

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