Widows & Widowers Support Group

This community is dedicated to those who have lost a husband, wife, or partner. Anything is open for discussion here, with the hope that we can focus on grief, bereavement, life after loss, and continuing on after a great loss.

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As-Is

Truhal
Truhal
I find myself again wishing my husband was around to tell me what to do. I've been searching for a townhouse and finally found one that I like. It's a short sell that is as-is. I'm told that they had a buyer, but the buyer walked. The bank has already set a price that I can meet. So, I hope there is someone out here that can answer my question.

Is it dangerous to buy an as-is property. My realtor said that all houses are as-is, yet I know there is a distinction between the two. I don't have the money or ability to make costly repairs. So what do you think?
Truhal
Truhal
I've decided to go for the house. It's just so nice. I'm going to get an inspector and see what they say. I really am picturing myself in this house.
deleted_user
deleted_user
I am a realtor. Short sales, my house being one on the market, are sold as is. Buyers have the right to have a home inspection for their information only. Seller will not be doing any repairs so when the home inspection comes back anything you need or want to do is on you. I don't know if there would be FHA type financing available that would include some funds for repairs. You could ask your agent. Also you are entitled to see a seller's disclosure. It is also possible that the buyer who backed out had an inspection done and backed off due to the results of the inspection. You can ask to see that if possible. These short sales are great deals but be sure you can afford it and be patient because the paperwork could take months through the banks. Worth the wait for the right property though. Good luck, be careful, ask questions. Hug, Donna
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