Buying a Home As-Is
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To make an as-is offer is to state that you, the buyer will take the property in the condition it is in as the date you are making the offer. And will not ask the seller to do any repairs to the home. For sellers they love the idea of being able to mentally move on from this home to the next one as soon as they accept your offer. Before considering making this decision, here are a few tips to help you feel at ease.
1. Newer or Well-Maintained Property
If the property isn't on the newer spectrum, has there been prior work or replacement done to the major working systems like the roof or HVAC? If so, you should feel more confident with your decision.
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2. Review Property Related Disclosures
The seller has prepared their property related disclosures, and you have reviewed before placing an offer. The seller should have prepared and shared with you their insurance claims history report and note if they have had any claims on the property in the past five years, as well as their seller property disclosure statement. This document is a legally binding document that the seller mentions any flaws, improvements or issues that they know of that the buyer would also need to know about. You want to make sure you review both documents thoroughly before going through an as-is sale.
3. Do Your Home Inspections
 Even if you decide to go through with writing an as-is sale, and it gets accepted, you are still allowed your inspection period. Make sure you have a team of contractors out there so you have a full understanding of the property. In the worst case scenario, the property needs more work than what you originally expected, you're able to cancel the contract and receive your earnest money.Â
So when making an as-is offer, essentially your promise is that you won't ask the seller to do any more work to the property. That promise is not set in stone though, because most sellers would prefer to close the deal with you than to put it back on the market if major hidden repairs come to light after your inspections. However, you shouldn't make an as-is offer with the intention to approach the seller and ask for repairs or credits. Only make one if you're prepared to handle all the obvious needed repairs and some degree of non-obvious repairs that your inspectors might uncover.
I hope this blog was helpful. Remember, if you have any questions about getting a home under contract or real estate in general, I invite you to give me a call, email or text!
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Rachel Clark
Hi, I'm Rachel!
As a Tucson native, I have been fortunate enough to experience everything Tucson has to offer! I love being able to speak to people on a daily basis who are either looking to move to Tucson or are fortunate enough to already live here! You can reach out too. Send me a text, give me a call or shoot me an email. I'm here to help however I can when it comes to moving to Tucson!
