Selling Your Home In Southern California As-is

Home-for-Sale

Real estate buyers and sellers may be familiar with the word as-is. This might be a beneficial condition for sellers, but it is critical to understand how a potential might react to that term. Here is some important information on selling your home in Southern California as-is.

Definition of As-Is

As-is signifies that a home will be sold in its current condition. This applies to any problems that may be present, whether they are visible or not. Buyers must complete an inspection to closely assess any problems before finalizing the sale. The precise interpretation of as-is can differ by state depending on the situation.

Disclosure of Property Condition

Regardless of whether the term as-is applies to a real estate contract, sellers still have a obligation to share any material defects. The use of as-is does not permit home owners to lie about problems. This is critical for sellers to know.

What Buyers May Assume

Seeing the term as-is in a listing is often intimidating for many home buyers. Many presume that it must have some major problems. For those that are prepared to accept a sale as-is, they will historically offer a lower amount to accommodate the as-is condition. Buyers should consult with a lawyer if they have concerns about their rights in connection with the use of as-is terminology.

How As-Is Benefits Sellers

Sellers often want to use the condition as-is to merely announce that they do not plan to complete any repairs on a home prior to settlement. However, from a legal standpoint, it means much more. It is obviously favorable to a seller given that it provides protection against future lawsuits from that buyer. For home buyers, it can be a red flag and they should evaluate the home with care.

Is Selling Your Home In Southern California As-is a Benefit?

This is not really a simple question. Consult with your Realtor about selling your home in Southern California as-is and whether it makes sense. He/she may also provide some advice on the affect it may have on potential buyers and the ultimate sale price. If you are not currently working with an agent, call Matthew Rapoport at Homes Inc. at (213) 334-4141.