Tnrealestateblog's Blog

October 9, 2011

Does an As-Is Sale Mean a House is in Bad Shape?

Filed under: Uncategorized — Tags: , — tnrealestateblog @ 6:01 pm

Does an As-Is Sale Mean a House is in Bad Shape?

This is a question I’ve answered many times lately when working with buyers in Franklin and Spring Hill, Tenneessee just south of Nashville.The answer is not necessarily.There are various reasons a home might be sold in “as is” condition.It simplifies the sale process when the owner doesn’t have to negotiate or make any repairs.The buyer can still make the sale agreement contingent on an inspection satisfactory to them but the owner will not make any repairs.

Recently I showed a house where the owner was widowed and she wanted a quick and easy sale.The home was priced a little under market value and offered “as is”.The property was beautiful & move in ready! I understand it brought multiple offers in just a few days! It is a more likely for homes to need work and have deferred maintenance if they have been foreclosed (bank owned properties) or those that are being sold as a short sale (for less than what the owners owe on the property).These distressed sales commonly do not have the pride of ownership that you might see in a house that is occupied and cared for. I’ve seen some foreclosures that are trashed and a few even had cabinets, light fixtues or other attached items removed! I’ve also seen some foreclosures or short sales that need very little work, if any.

The moral of the story is don’t jump to conclusions that a house is in terrible condition just because it is sold as is with no repairs made. Keep an open mind and look into the property a little further before you label it as a scary mess. You might be pleasantly surprised and if not, you will have an interesting story!

 

If you would like more information about Homes in Franklin and Williamson County, please contact Tiffany White at 615-260-5858.

This post and its contents are the property of Tiffany White with Keller Williams Realty, providing real estate services to Franklin, Brentwood, Spring Hill, Nashville, Green Hills, Murfreesboro and surroundings areas of Middle TN.

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