

AS-IS buyers
An "as-is" buyer or an "as-is" purchase is a term commonly used in real estate transactions to describe a buyer's intention to purchase a property in its existing condition, without expecting the seller to make any repairs or improvements. In an "as-is" purchase, the buyer acknowledges that they are willing to accept the property in its current state, including any known or unknown defects, issues, or problems.
Key characteristics of an "as-is" buyer and purchase include:
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No Repair Requests: An "as-is" buyer does not typically request the seller to address any issues or make repairs to the property before the sale closes.
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Property Inspection: While an "as-is" buyer may still conduct a property inspection for their own knowledge and due diligence, the purpose of the inspection is generally informational. The buyer may use the inspection results to decide whether to proceed with the purchase but not necessarily to negotiate repairs.
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Acceptance of Risk: By choosing to buy a property "as-is," the buyer assumes the risk associated with any hidden or undisclosed defects or problems that may arise after the purchase.
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Potential Cost Savings: Buyers who are willing to accept a property in its current condition often do so in the hope of acquiring the property at a lower price than they would if they were requesting repairs or concessions from the seller.
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Clarity in the Purchase Agreement: The purchase agreement should clearly state that the sale is "as-is" to avoid any misunderstandings or disputes between the buyer and seller regarding the property's condition.
It's important for both buyers and sellers to understand the implications of an "as-is" purchase:
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For Buyers: If you're considering purchasing a property "as-is," be prepared to conduct thorough due diligence, including a property inspection, and factor in the potential costs of addressing any issues or repairs after the sale. You should also ensure that you have the financial resources and willingness to take on these responsibilities.
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For Sellers: When selling a property "as-is," you may be able to avoid the expense and hassle of making repairs, but it's essential to disclose any known defects or issues to potential buyers to comply with legal and ethical obligations.
Real estate laws and regulations regarding "as-is" sales can vary by location, so it's advisable to work with a qualified real estate agent or attorney who is familiar with the local practices and can guide you through the process. Additionally, buyers and sellers should carefully review and understand the terms of the purchase agreement to protect their interests in an "as-is" transaction.

Buys homes, as-is, even in challenging situations.
If you need to sell your home "as is," or quickly due to a pre-foreclosure or other challenging circumstances, we'd love to see if we can help. We make same-day offers on homes, and can typically close in less than 2-4 weeks. Our goal is to create a win-win and help you get a fresh start.

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