Please explain 'as-is'

[palmcoasting]

You have people that switch things out...as in a different refrigerator is there, the blinds/window covers removed, etc. When the inspectors I recommend go to the house they write down the serial numbers of appliances to protect the buyer. I generally will take pictures if there aren't enough on the mls so we know what was where, what it was, etc. Does it happen a lot? No, but with economic times getting worse it's best to protect yourself. With a tenant involved, since they aren't party to the contract, you need to take extra precaution. Tenants can get very upset that things are changing and do damage that neither contract party has control over so the buyer has to be extra cautious.

[Thatguywho]

Originally Posted by Karen59

If I want to buy an as-is house, how can I protect myself without doing an inspection before the offer?

I recently made an offer on an as-is house, but I paid for an inspection before I made the offer. That could start to get expensive, however.

If a house is as-is, and I wait until my offer is accepted to pay for an inspection, is there a way to get out of the deal if I find major, unexpected damage or flaws (without losing my deposit?) How can I word an offer to cover this?

It is assumed that 'as-is' means the owner refuses or cannot fix anything wrong with it.

Usually in a sale like that, it is contingent on an inpsection of the property by the buyer and a professional inspector.

The contract to buy it may have something like 'if the property has more than 1,000 in problems, buyer can withdraw' and things like that.

I always get my clients to get a letter from the seller first explainging the as-is and any known issues. And with the 'contingents' we make it fully contingent on the buyer being okay with the inspection, no matter what the costs are.

Although 'as-is' it does not mean that monetary alterations cannot be added to the sales contract as part of the final contract.

AS-is does not mean anything is really wrong with the property. Many contracts of sale used by Realtors automatically throw in a 'dollar amount' the seller must pay towards problems on an inspection. The 'as-is' tells you the owner does not want that type of pre set BS in the sale.

As-is is a very standard contract addition, especially among homes at the middle class and lower price ranges for a lot of areas.

[MikeJaquish]

Karen,

Are you using an agent or attorney?

I ask because you need to know from a professional if "as-is" even has any meaning where you are trying to buy.
"As Is" has no legal definition in North Carolina.
So, I never say "as is" in an offer for a buyer.

If you ever end up in court, the offer needs to be very clear, not vague, and "as is" is vague, at least where I work.