There were so many concerns with this property, significant concerns that the buyers were willing to take on with eyes wide open. Lots of research went into helping them decide to take this unusual home in "as is" condition. After a month of research, talking with numerous experts, back and forth negotiating, and giving our final and best offer, a text from the listing agent this morning read: "Can you talk? I don't have good news."
My first thought...what is there to talk about if the offer was not accepted? Another offer … (16 comments)
buying as is: Is "As Is" Really As Is?
- 06/07/18 07:20 PM
In our Maryland contract a property may be sold "as is" Why would you purchase "As Is"? Maybe there are multiple offers, maybe the buyer is comfortable enough to say they will not be asking for repairs. Maybe the buyer is planning to do a major renovation. Maybe the buyer wants to use this as way to negotiate. Maybe a seller will only sell this way and the price reflects the "as is" condition.
If you are writing an offer "As Is" you might want to look at how this will be handled. I have seen buyers try to negotiate repairs. Make sure you understand the contract.
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