So what does the phrase “sold as is” mean in an Andover real estate listing?
Have you ever seen the phrase “sold as is” in a description of a home for sale? What exactly does that mean and why write it into the property description? In my opinion all homes are offered for sale in “as in condition.” While many sellers make repairs and improvements to their homes before listing them for sale I have yet to find a PERFECT home. If you’ve ever shopped for a home you’ll know there is quite a range in the condition of homes offered for sale. An important step in the home buying process, therefore, is the home inspection. Once a buyer negotiates a contract to purchase a home, it’s recommended that he or she hire a professional home inspector to assess the condition of the home. If the inspection identifies unexpected defects or problems with the home, the buyer has several options….proceed with the purchase under the initial agreed upon contract, ask the seller to make repairs, ask the seller to renegotiate the price with the buyer assuming responsiblity for making repairs, or give written notice to the seller that he will not be proceeding with the sale, cancel the contract to purchase and request that his or her deposit be returned. In each of these options, the seller has the right to say no. If he or she does and the buyer still wants the home, the buyer purchases the home in “as in condition.” While it be more prudent for the seller to negotiate to make repairs than to insist on the home being sold in “as in” condition the seller is under no such obligation. As you can see the home buying process can become complicated as the process unfolds. The consequences to both the buyer and the seller during this process can be quite serious. As your REMAX real estate agent I am trained to guide you through the home buying and selling process. I can save you time and money and help you with all your real estate needs.
Phone: (978) 482-3900 | Contact Paulette
www.YourPaulette.com
FREE Andover Property Search | FREE Listing Updates
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply