Agent

Pros, cons of ‘as is’ home sales

Seller may be hiding serious undisclosed defects
Published on Jan 5, 2004

DEAR BOB: What are the pros and cons of an "as is" home sale for the seller? Are there any advantages for the home buyer? – Mary B. DEAR MARY: An "as is" home sale means the seller must disclose all known defects in the property to prospective buyers, but the seller will not pay for any repairs. The obvious "as is" sale advantage for the seller is there aren't any repair costs. However, many prospective buyers are wary of "as is" sales because there will probably be repair costs and the seller might have "forgotten" to disclose all defects. Purchase Bob Bruss reports online. An "as is" sale is not a positive way to sell a home. However, it is often used by home sellers to guard against buyers who discover a defect after purchase and expect the seller to pay for repairs. A possible "as is" home sale advantage for the buyer is the seller might sell for a lower price than an ordinary sale. But most buyers believe an "as is" home seller might be hiding undisclosed defects that ...

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