Quote:
Originally Posted by marino760
What if the house is being sold "as is" and the inspection shows lots of expensive repairs need to be done, maybe a new hvac and a leaking roof? Does the person putting in the offer then have the ability to walk away after making an offer and after an inspection shows major costly repairs are needed?
It seems putting in an offer before an inspection means you are putting in an offer with a blind fold on.
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"As is" is mostly useless if you are dealing with an individual and not a corporation. It's mostly someone telling you they don't want to do or aren't willing to do repairs. If buyers find deal breakers they can still ask for repairs and sellers may still agree to save the deal. If buyer finds deal breakers, they can still walk away if seller won't do repairs.
I've had plenty of sellers, particularly the elderly, say they want to sell as is, usually because they are worried about expense or stress of repairs. I usually talk them out of it because it scares buyers away. When they\ sellers find we'll coordinate estimates and repairs, and it's usually manageable, those same sellers will often agree to repairs that are reasonable.
Corporations, especially those with foreclosed properties, don't care. They typically will just let the buyer walk and sell it to someone else.
A little off topic, but why sellers shouldn't usually sell as is:
https://www.youtube.com/watch?v=PK5hKWuVx1Y
Well, for some reason it won't embed the video...only show the link. Oh well.
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