If you have begun to search through property listings you may well have encountered properties listed as-is. So, what does this mean?
There are a few reasons why a homeowner might list their property as-is. Most of the time, however, the reason is that they either don’t want the hassle of fixing it up to sell, or they don’t want to be held responsible for any problems with the house after the sale. What does that mean for you if you buy the home? Will it be a poor investment?
If the home is the right price and it is in the location you want to live in, then it is not necessarily a bad investment but, you must first find out the true condition of the property before making a final decision. Just because a house may appear to be in good shape, doesn’t mean it is. Even if the homeowner has been required to provide a written disclosure regarding the condition of the home, they may have omitted crucial information.
The best way to find out the property’s true condition is to have it thoroughly inspected. A detailed home inspection will reveal any major issues with the property and help give you a good idea of the type of budget you will need to get it in livable condition.