Recently we were asked what does it mean to by an Asheville House As-Is condition? After discussing and explaning what an As-Is sale, we came to the realization that there might be others asking the same question and not able to find the answers. Selling your house in As-Is might be a good option, to help you make a decision that you are comfortable we came up with three important points to keep in mind when it comes to selling your Asheville House As-Is.
Definition
You want to sell your Asheville House As-Is what does that mean? The As-Is clause lets the buyer know that you are not making any representations about the house, implied or otherwise. In other words, this protects you (the seller) from having to know your property inside and out. If there is something wrong with the house, boundry lines, etc. then the responsibility is on the buyer to find that information out on their own either before or after the sale. However, this does NOT mean that you can misrepresent an item. For example, if as a seller you are aware that the water heater is leaking in the basement, you must let the buyer know. Which leads us to our next point…
Disclosures
This is pretty straight forward, if you know something is wrong with your property then you must let the prospective buyer know. As we like to tell our clients, we will buy your Asheville house As-Is, we just want to know what we are buying. If something is damaged, not working, or if there are any property line disputes that you KNOW of then you MUST disclose to your buyer. If there are issues are not ware of then you are protected due the As-Is clause.
Buyers
The main disadvantage, if there is one when selling an Asheville House As-Is is your buyer pool. Typically houses that are sold in “as-is” conidtion has a few known issues. This is seen with foreclosed properties, inherited properties, etc. Additionally, many houses that we buy in “as-is” condition are also with homeowners that have lived in the same house for years and have not had the ability to keep up the maintenance. So…who CAN buy your Asheville house As-Is? Although it is possible to get traditional financing to purchase a property in “as-is” condition, more than likely you will need to work with someone who can pay cash.
We hope that the information here has been helpful while you make your decision. Want to get to know us before making a decision? If you are ready to move forward and sell your Asheville House As-Is then fill out the form below to get started.