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Why home buyers and sellers must understand ‘as-is’ sales

'As is' usually doesn't get top dollar

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If you are buying or selling an "as-is" residence during this peak home selling season, it is very important to understand the pros and cons of such a home sale. Thousands of houses and condos are sold "as-is" every day. But an "as-is" sale usually isn't the best way for a home seller to get top dollar. The reason is an "as-is" sale gives a warning signal to prospective buyers there might be something wrong with the property. Purchase Bob Bruss reports online. However, an "as-is" home purchase might be an incredible bargain for the buyer who understands the possible benefits and detriments. WHAT IS AN "AS-IS" HOME SALE? Most of us are familiar with "as-is" used car sales. It means the seller makes no warranties or representations as to the car's condition. Although similar, "as-is" home sales are a bit different, thanks to state laws and court decisions. The old days of "caveat emptor" (let the buyer beware) are long-gone in most residential sales. Today's rule seems to have become "H...