Nowadays there are a variety of ways a person can purchase a new home. There is something to suit everyone, for example, maybe you would like to fix up an old home or perhaps you are someone who would prefer a move in ready option. What about when a property is listed “as is”? What does that mean and is it a wise choice?
When a property is listed “as is” it generally means that the seller does not want to go to the bother of fixing it up just to sell. They might also not want to be held responsible for the condition its in, or problems with it after its sold. Does that mean it’s a bad choice? No, not necessarily.
If this is a property you really like and its at the right price, then there is no reason to think it’s a bad choice. There are some steps you should take, however, to make sure you are getting a good investment.
The first thing to do is have the property inspected by a certified home inspector. This will allow you to have a better idea of the type of property you are getting. While it more than likely has obvious, visible issues, its good to know of any that are not immediately visible. Having a home inspection performed on it could end up saving you a lot of money in the long run.
What about if you live in a location that requires the seller to give a written disclosure on the condition of the property? Should you still have a home inspection done? Unfortunately, the disclosure is not always a reliable source as a dishonest person might omit important information. Again, a home inspection will let you know if the disclosure is reliable which, in turn, will give you an idea of how trustworthy the seller is.
Buying a property “as is” can be a good buying option but, care should be taken to find out the properties true condition before making a final decision.
Dave Graham, Tempest Home Inspection. Calgary Alberta