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Sellers are always surprised when an "as-is" house gets a repair request. :)
Other than that, I've seen good and bad surprises.
I know buyers who thought they were getting a fixer-upper, and ended up doing a complete tear-down.
Ryan Huggins - Thousan...
Thousand Oaks, CA
Almost all property in SoCal are sold ''as is''. It still means that the homeowner have to disclosure any known and material issues that might affect the value and desirability of the property.
Obtaining inspections and completing due diligence on a property will help avoid surprises.
Not that I am aware of. It's still important to have the necessary inspections. Our CA contract states that homes are sold as is unless otherwisse indicated in writing
"as-is" is a crap shoot, especially for foreclosures that have been vacnt for some time. Have seen cross-wired electrical that would have burned the house down if activiated or concrete in the toilet pipes!
yes that is why we buy it as is
I still ensure buyers do a thorough home inspection so they'll know what they are buying. Could something be missed? Sure, but that's the same of any house.
Expect the unexpected !
There are no surprises when buying or selling as is because you should be prepare for the worst possible case.
No, beause in Texas our contract is an "as is" contract.
Buying "as is" does not mean agreeing to buy without knowledge. Before you ever agree to buy "as is", proper inspections still need to be done prior to finalizing the terms and conditions, so you know what you're getting!
Yes!! I had a wonderful surprise for my buyers when they removed a very dark paint and some old window guards. They did not realize that about two or three inches from the window borders was all covered by an in-cased frame. When they removed the frame, the thich window guards and the incased frame, they incovered the most gorgoeous view of the hudson river on the UWS...
Our contract says every home is sold AS IS with the option to ask for repairs.
YOu do deligience inspect with clients. If you don't you asked for it. In No CA last 12 years all AS IS......
Except one deal there was a $500 credit back the rest were all AS IS.
The only surprise I've encountered is so many agents, buyers and sellers do not know the purpose of 'AS-IS.'
They tend, incorrectly, to associate it to inferior properties.
Our California purchase agreement reflects that properties are sold in "as is" condition. That said, real estate is full of surprises.
No... then again, all our properties are sold "as is" and it says so in our contracts.
I am a real estate broker - 30 + years experience - I would say the oddest home selling as-is was in Cashmere Wa. I was showing it and when i opened the basement door I realised that the basement was filled with water to about 3 steps from the top. Apparently their sump pump was off and the owner didn't think about that when he moved and had the power turned off to the house.. Seriously looked like an indoor swimming pool...
There are always surprises about a month after a sale but, nothing immediate because we have the property inspected thoroughly during the Due Diligence period. Inspections are always permitted even with as-is sales Contracts.
Sure, but nothing I couldn't handle.
Most of my buyers will do a home inspection which helps cut down on the surprises.
There's always surprises.
abby tiscareno - if there are no surprises, that will be a surprise!
During the recession, we represented REO property. One listing, which had been sold many times over the past decades, was discovered to have no septic system installed. Over the years, the waste from the home was flowing in a pipe to a hole under the driveway. This was a HUGE surprise and the bank had to pay to install an expensive sand filter system and remove decades of waste to make the home sellable. They really lost on this transaction.
abby tiscareno No surprises here.
I would never think of buying a property unless I had a thorough home inspection..... I've bought 23 properties and had an inspection with each one....
Not if you do your buying with eyes wide open
No, because I always subject to inspections.