When shopping around for a house, you may see a house that’s listed as a “sold as is” home. But what exactly does this label mean and why are they listed this way? 💭
A seller who is listing their home for “sold as is” means they’re not obligated to do any repairs before closing day.
Before you panic though, buying a “sold as is” doesn’t always mean that the house will be in shambles shortly after purchase. 🙅 There are several reasons why a seller would list this way, such as not being able to afford contractors or simply for convenience. And if you include an inspection contingency, you may still be able to renegotiate for a credit in lieu of repairs should something arise during the inspection.
In the end, the risk-benefit cost is up to you!