Re house for sale.What does this mean? (Charlotte, Huntersville: to rent, condo)

[southbound_295]

Originally Posted by anifani821

That is an adorable house. I love it!

So one would get the $14,000 and then the tax benefit, as well, if a first time homeowner. The thing would be - if the person is young, they may not qualify for a loan that large.

SB - yeah, that makes sense - this is a foreclosure so that would mean the disclosures are not applicable.

That looks like a very interesting property.

Ani, I've seen AS IS plenty of times, but never WHERE IS. That throws up a flag to me. There is definitely something wrong here.

[anifani821]

Originally Posted by southbound_295

Ani, I've seen AS IS plenty of times, but never WHERE IS. That throws up a flag to me. There is definitely something wrong here.

Maybe there is something funky w/ the deed . . . easements, perhaps.

[southbound_295]

Originally Posted by anifani821

Maybe there is something funky w/ the deed . . . easements, perhaps.

Maybe. . . It's just that when I see where is, I immediately wonder why wouldn't the house be there. Makes me wonder if the easement is for road widening & if that road is slated to be widened.

A friend was telling me about someone who bought a really nice house in South Gastonia, & then the road got widened. . . These people can now walk out the front door & feel the breeze from the passing traffic.

I could be wrong. There may not be a problem, it might be unfortunate wording.

[lovesMountains]

"as is, where is" just means the seller will make no repairs, no matter what - the buyer would still be free to walk after an inspection however. (Ex: the air conditioning unit has been stolen out of the yard - the seller will not replace it. Or, suppose all the light fixtures are missing - oh well, you have to agree to take it as is basically.)

There is nothing wrong with using this language - just gives you a heads up you are likely dealing with a foreclosure, which we all know are not likely to be in the best of conditions.

"as is, where is" = "take it or leave it"

[anifani821]

Originally Posted by southbound_295

Maybe. . . It's just that when I see where is, I immediately wonder why wouldn't the house be there. Makes me wonder if the easement is for road widening & if that road is slated to be widened.

A friend was telling me about someone who bought a really nice house in South Gastonia, & then the road got widened. . . These people can now walk out the front door & feel the breeze from the passing traffic.

I could be wrong there may not be a problem, it might be unfortunate wording.

Knowing how property descriptions are often written by folks who are not the best of professionals, it could be "unfortunate wording," (love the way you phrased that!!!) But yet, that raises a red flag with me, too. I would surely want to check that deed and any road planning and easements, as well.

Heck, for all I know, it was built on a landfill that is sinking. Not that I have any info that suggests this! Just saying - "caveat emptor."

[anifani821]

Originally Posted by lovesMountains

"as is, where is" just means the seller will make no repairs, no matter what - the buyer would still be free to walk after an inspection however. (Ex: the air conditioning unit has been stolen out of the yard - the seller will not replace it. Or, suppose all the light fixtures are missing - oh well, you have to agree to take it as is basically.)

This is nothing wrong with using this language - just gives you a heads up you are likely dealing with a foreclosure, which we all know are not likely to be in the best of conditions.

That may be standard language - I had just never heard the "where is" added before. Have seen the "as is" many times, even when not pertaining to a foreclosures. That "where is" just made me raise an eyebrow, but maybe it is just a phrase and denotes absolutely nothing except legal language.

That is sure a good looking house, tho. And appears to be a good price. Of course, only so much one can tell from those photos.

It is a really good time for first time homebuyers!!!

[southbound_295]

Originally Posted by anifani821

Knowing how property descriptions are often written by folks who are not the best of professionals, it could be "unfortunate wording," (love the way you phrased that!!!) But yet, that raises a red flag with me, too. I would surely want to check that deed and any road planning and easements, as well.

Heck, for all I know, it was built on a landfill that is sinking. Not that I have any info that suggests this! Just saying - "caveat emptor."

LOL, I forgot about landfills (A neighborhood in my former town was built on a landfill. After a house blew up, the township had to vent each yard. They had failed to disclose the ancient landfill, when the houses were built in the '40s & since the houses had crawl spaces, the builder didn't find the evidence.).

[south.charlotte&union]

Loves is right, this is a foreclosure, which is why listed as-is where-is, and also seller (bank) exempt from disclosure.

[anifani821]

Originally Posted by south.charlotte&union

Loves is right, this is a foreclosure, which is why listed as-is where-is, and also seller (bank) exempt from disclosure.

So glad you noticed this thread and posted! Thanks, SC&U!!! Didn't realize that "where is" was just legal language. Loves is up on this stuff . . . I learn something here every day . . .

Nice house . . . and that would be great for qualified buyers - $14,000 and for new home buyers - the $8000 tax credit.

[SouthernBelleInUtah]

A neighborhood stabliization program suggests the neighborhood is going downhill and they are trying to attract new people who will keep up - heck repair - the property. I would be very cautious and check out the neighborhood at all times of day/night to be sure what I was getting into!