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by CareyBot

DEAR BOB: Is selling a house or condo "as is" a good or bad idea? I've heard arguments both ways – Tony J. DEAR TONY: Great question. An "as is" real estate sale means the seller (1) must disclose known defects, but (2) will not pay for any repairs. Purchase Bob Bruss reports online. However, if the residence suffers damage after the buyer's purchase offer is accepted by the seller in writing, the seller is still responsible for making repairs to restore the property to its "as is" condition as of the date of the sales contract. But there is a more important consideration with "as is" home sales. When a prospective buyer, or his/her buyer's agent, sees an "as is" listing, that raises a big red flag. "What's wrong with this home?" is the obvious question. There might be nothing wrong...