Home for Sale As Is – What Does that Mean in Texas?
This is a tricky one. Many Texas home sellers will prepare their home to go on the market by cleaning out, decluttering, fixing anything they know is affordable and in need of repair. But they eventually draw a line in the sand and say that’s it, either a buyer wants the house the way it is or they don’t want it at all. And that is true…to a degree. The buyer on the other hand may feel, either a seller wants to sell their house or they want to sit on it.
But simply put when a seller sells their home “as is” they are acknowledging that there are some items that may need to be updated but they aren’t going to sink money into those updates to sell the home. For instance, maybe a roof is ten years old, they know it could use some updating but there are no leaks so they feel it’s fine the way it is. Likewise, the air conditioning and heating may be 20 years old but it still works. And the buyer, knowing that these items aren’t the newest, is taking the calculated risk that they may have to replace or repair these items in the near future. You have to make that decision before purchasing the home.
Everything is negotiable, and if your inspector finds items in the house that are no longer working as they are meant to work then you now have the power to negotiate that repair or replacement. So “as is” doesn’t necessarily mean you are stuck with a broken item, it just means that the seller isn’t going to upgrade the item for the sell of the home. Now of course there could be a seller out there that refuses to repair a broken item…but that’s a whole other blog post.
If you would like to learn more about buying a home in the Austin area or selling a home in the Austin area, contact me today for an orientation.