As you shop for a home to buy, there is a chance you may come across a few that are being sold "as-is." As-is houses refer to homes that are sold just the way they are. Homeowners that sell their homes in this manner normally do so for several reasons, and it's important to understand what these are. It's also important to have a good home-buying agent working with you to make sure you know the best way to handle buying a house that is being sold as-is.
Understand why homeowners sell "as-is"
When a person decides to sell their home as-is, it is normally because the home has some problems that the owner doesn't want to deal with, repair, or address. Most homes are not sold in this manner, but there are usually a few for sale that are sold as-is.
Another reason a homeowner might sell a house in this manner is if the person wants to sell quickly. The homeowner might be looking to get out of the house as fast as possible, and selling in this way might help.
Learn the risks you take
If you compare buying an as-is house to a regular house, there are some risks. Fortunately, you can prepare for these risks if you know they are there. The main risk you have is that the house has some major problems. Typically, a house that is sold as-is will be listed for a really decent price, though, and this is to compensate for the problems the house has. As long as you understand this, you will be able to protect yourself if you decide to buy the house.
Steps you should take before you make your offer
If you really like a house that is for sale as-is, there are some steps you will want to take before you make an offer on it. The main step is to hire a good home inspector. The inspector you hire will be responsible for examining all the major parts of a home, except for surface issues. Surface issues are easy to fix and are affordable, but major home issues can be expensive, and these are the types of things you should find out before you buy the house.
After you find out the problems the house has, you should also get quotes for making the repairs. This will help you understand how much money you will have to invest in this house if you buy it, and this could help you determine how much to offer on the house.
Hiring a home-buying agent is a great step to take if you want to protect yourself when buying an as-is house. To learn more, visit resources like http://www.lindsaybunting.com.