In a fast-moving housing market, you may conclude that you don’t need to do much to sell your homes. But, selling a home “as is” may cost you more than you know.
Your listing contract will include a clause that says the home is being conveyed “as is,” which means you’re selling the property in its current condition with no intention to make repairs or improvements. That doesn’t absolve you of responsibility to the homebuyer—you’ll still have to provide a state-mandated seller’s disclosure attesting to what you know about the home’s condition.
If the buyer includes a home inspection contingency in the sales contract, it allows them to come back and ask for repairs before closing or they can ask for a price reduction. You can refuse, and the home will go back on the market, wasting precious marketing time. In the event that the buyer intends to tear down or gut the home, the sales contract can be drafted without an inspection contingency or it can be contingent to major systems only.
If the buyer includes a home inspection contingency in the sales contract, it allows them to come back and ask for repairs before closing or they can ask for a price reduction. You can refuse, and the home will go back on the market, wasting precious marketing time. In the event that the buyer intends to tear down or gut the home, the sales contract can be drafted without an inspection contingency or it can be contingent to major systems only.
Ask your Berkshire Hathaway HomeServices network professional for advice before you decide to sell “as is.”
