With Or Without Inspections When Buying A Baltimore Home

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

Why would you purchase "As Is"?

Maybe there are multiple offers, and perhaps the buyer is comfortable enough to say they will not be asking for repairs. Maybe the buyer is planning to do a significant renovation.

Maybe the buyer wants to use this as a way to negotiate. Perhaps 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 someone will handle this.

I have seen buyers try to negotiate repairs.

Make sure you understand the contract.

Initial only one!

Featured Image

Below is a section of the Maryland Real Estate "AS IS ADDENDUM."

 

Maryland "as is addendum"

 

There is the "As Is" without inspections...pretty self-explanatory.

 There is the "As Is" with inspections and the right to terminate.

Within a time limit, usually ten days, the buyer chooses an inspector and proceeds with a full inspection. The buyer has the right to withdraw the offer based on that inspection.

Do you have questions about buying or selling your home?

Please call Margaret Rome.

 

 

 

Margaret ROme

 

 

Comments (11)

Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

You have to be pretty confident to waive any inspections. Or desperate.

Feb 04, 2021 07:30 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

If it was a tear down, I would waive the inspection. Jeff

Feb 04, 2021 08:06 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I encourage my buyers to get a Home Inspection even if they are buying "as is" just so they get the full picture of what they're buying, good or bad Margaret Rome Baltimore 410-530-2400 

Feb 04, 2021 08:32 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Margaret Rome Baltimore 410-530-2400 I am amazed at how many folks purchase without a home inspection. But then, I remember Easton vs Strasberger

Feb 05, 2021 06:54 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret being on the financing side I look at "as is" a little differently.  The contract can say "as is" all it wants, but if an Appraiser points out something that needs to be repaired, it will need to be repaired or no financing will be approved.  Nor to much of an issue with conventional loans, but with government loans like FHA, VA, and USDA it can be an issue fairly often.

Feb 05, 2021 02:52 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Joseph Domino 480-390-6011, The inspections were not waived but it was being sold as-is!

Feb 05, 2021 06:41 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI , This was not a teardown but it was being sold as-is with inspections.

Feb 05, 2021 06:42 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Paul S. Henderson, REALTOR®, CRS 

So do I. That's why we have the "as-is" with inspections!

Feb 05, 2021 06:44 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Rocky Dickerson Yes, that was a landslide!!

Feb 05, 2021 06:51 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

George Souto You are so right.

We are not waiving an inspection, just setting it up so the seller does not have to correct anything and the buyer can walk. The appraisal is another "kind" of inspection, especially with the government loans!

Feb 05, 2021 06:54 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

That second option is one that I would like to see on our contracts as it would help a lot of buyers especially during the current frenzy.

Feb 06, 2021 04:23 AM