Thoughts / Recommendation on Buying "As-Is" House
Thoughts / Recommendation on Buying "As-Is" House
Hello All,
We (34M&F) are planning on putting an offer on the house which is on market. We are buyers in New Jersey. The house is marketed to be sold in "As-Is" condition. Moreover, this is an estate sale. The house is in a great school district with close proximity to Train Station. This house in our opinion is not move-in ready but needs some touch-ups. Following are few items which we noticed when we saw the house:
- Old Carpets (Have hardwood floor underneath)
- Main Window needed to be replaced due to fogging
- Kitchen / Bathroom needs an update (possibly down the line).
So I am hoping some one can please share their thoughts on Estate sale and especially houses which are sold in "As-Is" condition. Any pro/cons, anything to keep in mind or wish you had done, etc.
Appreciate your time and suggestion.
We (34M&F) are planning on putting an offer on the house which is on market. We are buyers in New Jersey. The house is marketed to be sold in "As-Is" condition. Moreover, this is an estate sale. The house is in a great school district with close proximity to Train Station. This house in our opinion is not move-in ready but needs some touch-ups. Following are few items which we noticed when we saw the house:
- Old Carpets (Have hardwood floor underneath)
- Main Window needed to be replaced due to fogging
- Kitchen / Bathroom needs an update (possibly down the line).
So I am hoping some one can please share their thoughts on Estate sale and especially houses which are sold in "As-Is" condition. Any pro/cons, anything to keep in mind or wish you had done, etc.
Appreciate your time and suggestion.
Re: Thoughts / Recommendation on Buying "As-Is" House
The concept of "as is" in it itself isn't that negative. It can mean that the person selling the house doesn't want to be dealing with someone nit picking for this/that to be fixed as part of a sale.
This shouldn't be confused with buying a home without inspection that people have been doing in the recent housing craze. An "as is" home should be very carefully inspected prior to purchase so that you understand what needs to be repaired/replaced and you can factor that into a reasonable offer.
This shouldn't be confused with buying a home without inspection that people have been doing in the recent housing craze. An "as is" home should be very carefully inspected prior to purchase so that you understand what needs to be repaired/replaced and you can factor that into a reasonable offer.
Re: Thoughts / Recommendation on Buying "As-Is" House
Thank you very much! There is no seller disclosure for the house. And so we are completely reliant on the inspection.IMO wrote: ↑Thu Sep 16, 2021 10:57 am The concept of "as is" in it itself isn't that negative. It can mean that the person selling the house doesn't want to be dealing with someone nit picking for this/that to be fixed as part of a sale.
This shouldn't be confused with buying a home without inspection that people have been doing in the recent housing craze. An "as is" home should be very carefully inspected prior to purchase so that you understand what needs to be repaired/replaced and you can factor that into a reasonable offer.
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Re: Thoughts / Recommendation on Buying "As-Is" House
If there were a structural issue, you might have a reason to be concerned. But since the items you list are cosmetic in nature, I wouldn't hesitate at all to buy this house as is (if it meets your needs and finances otherwise.)
Re: Thoughts / Recommendation on Buying "As-Is" House
The seller agent said there is no structural issues but again we don't know for sure. We are taking the words for now. We will have to wait for the inspection to tell us if something is off or are we good with the house.Colorado13 wrote: ↑Thu Sep 16, 2021 11:02 am If there were a structural issue, you might have a reason to be concerned. But since the items you list are cosmetic in nature, I wouldn't hesitate at all to buy this house as is (if it meets your needs and finances otherwise.)
Re: Thoughts / Recommendation on Buying "As-Is" House
As long as you can do an inspection before offering or contingent upon, no issues. Just know they won't fix anything and adjust your offer accordingly.
Re: Thoughts / Recommendation on Buying "As-Is" House
Thank you! The seller is firm on the price. But yes, if some major comes out of inspection, we will probably negiotate. Appreciate your suggestion.
Re: Thoughts / Recommendation on Buying "As-Is" House
My guess is that an as-is house will be priced (or negotiated) so as to be a good value if you d-i-y all the repairs (and have estimated them correctly), but a poor value if you hire out all the repairs at retail prices and/or find additional repairs that need to be completed.
- TomatoTomahto
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Re: Thoughts / Recommendation on Buying "As-Is" House
Most people have very little imagination or visual sense. My wife comes from a long line of artists and can see what a house can become. If you can see past the “as-is-ness” of the house (TM on that neologism), you will benefit.
Of course do an inspection. We sold my MIL’s house a while ago as an “as is” because we didn’t want to deal with the nit pickers. We disclosed all defects honestly but didn’t want to haggle after selecting an offer.
Of course do an inspection. We sold my MIL’s house a while ago as an “as is” because we didn’t want to deal with the nit pickers. We disclosed all defects honestly but didn’t want to haggle after selecting an offer.
I get the FI part but not the RE part of FIRE.
Re: Thoughts / Recommendation on Buying "As-Is" House
I would assume the sellers just don't want to deal with any haggling so I wouldn't shy away. I would just make sure I go in eyes wide open based on what you are dealing with. Get the regular inspection and radon testing, but possibly other more specialized if your inspector indicates there might be an issue.
The things I'd be concerned about are the big ticket items like the roof, HVAC, sewer line, flooding issues. If you have to deal with any of those problems, it might not be as good of a deal as it seems.
The things I'd be concerned about are the big ticket items like the roof, HVAC, sewer line, flooding issues. If you have to deal with any of those problems, it might not be as good of a deal as it seems.
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Re: Thoughts / Recommendation on Buying "As-Is" House
Agree with every word here. Inspection, with emphasis on big ticket items as others have wisely said.IMO wrote: ↑Thu Sep 16, 2021 10:57 am The concept of "as is" in it itself isn't that negative. It can mean that the person selling the house doesn't want to be dealing with someone nit picking for this/that to be fixed as part of a sale.
This shouldn't be confused with buying a home without inspection that people have been doing in the recent housing craze. An "as is" home should be very carefully inspected prior to purchase so that you understand what needs to be repaired/replaced and you can factor that into a reasonable offer.
Re: Thoughts / Recommendation on Buying "As-Is" House
Thank you so very much for your suggestion! We will keep this in mind when reviewing the inspection report.davebo wrote: ↑Thu Sep 16, 2021 11:35 am I would assume the sellers just don't want to deal with any haggling so I wouldn't shy away. I would just make sure I go in eyes wide open based on what you are dealing with. Get the regular inspection and radon testing, but possibly other more specialized if your inspector indicates there might be an issue.
The things I'd be concerned about are the big ticket items like the roof, HVAC, sewer line, flooding issues. If you have to deal with any of those problems, it might not be as good of a deal as it seems.
Re: Thoughts / Recommendation on Buying "As-Is" House
I believe you need to consult a New Jersey real estate lawyer. I thought New Jersey required disclosure even if the sale is as is.
googled up at random:
www.earlwhite.law/sell-house-as-is-new-jersey/
Read it all, but here's one paragraph.
"“As Is” Clause and Disclaimers. Sellers cannot eliminate their disclosure obligations with an “as is” contract clause or a general contract disclaimer. See Dalmazio v. Rosa, No. A-3635-12T1 (Super. Ct. App. Div. Feb. 20, 2015) (“In the context of a real estate sale, a sufficient misrepresentation occurs if the seller fails to disclose on-site defective conditions if those conditions were known to them and unknown and not readily observable by the buyer. A contract that purports to sell real property ‘as is’ or in its ‘present condition,’ is nevertheless subject to rescission or monetary damages where the seller fails to disclose or conceals material defects in the property which are actually known or constructively known to the seller, but not readily apparent to the buyer.”); ABDM Props., Ltd. Liab. Co. v. Meusz, No. A-4556-15T4 (Super. Ct. App. Div. Aug. 23, 2017) (“Courts have also refused to enforce ‘as is’ or ‘no warranties’ clauses to defeat concealment of latent defects claims.”)"
googled up at random:
www.earlwhite.law/sell-house-as-is-new-jersey/
Read it all, but here's one paragraph.
"“As Is” Clause and Disclaimers. Sellers cannot eliminate their disclosure obligations with an “as is” contract clause or a general contract disclaimer. See Dalmazio v. Rosa, No. A-3635-12T1 (Super. Ct. App. Div. Feb. 20, 2015) (“In the context of a real estate sale, a sufficient misrepresentation occurs if the seller fails to disclose on-site defective conditions if those conditions were known to them and unknown and not readily observable by the buyer. A contract that purports to sell real property ‘as is’ or in its ‘present condition,’ is nevertheless subject to rescission or monetary damages where the seller fails to disclose or conceals material defects in the property which are actually known or constructively known to the seller, but not readily apparent to the buyer.”); ABDM Props., Ltd. Liab. Co. v. Meusz, No. A-4556-15T4 (Super. Ct. App. Div. Aug. 23, 2017) (“Courts have also refused to enforce ‘as is’ or ‘no warranties’ clauses to defeat concealment of latent defects claims.”)"
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Re: Thoughts / Recommendation on Buying "As-Is" House
I primarily buy "as is" houses. Nothing wrong with them...
It just means you will be doing all the "decorating" fixups - painting rooms (which may mean removing wallpaper, fixing all the nail holes and imperfections in the walls, etc). Re carpeting/refinishing wood floors/new vinyl flooring. Maybe you will want to install new light fixtures inside and outside. For example.
It also means you will be doing all the actual "fix ups" or taking care of any maintenance that hasn't been done for years.
All of these things cost money.
I would do a punch list of sorts.
Get info on the "systems" in the house:
Age/condition of the roof/gutters/soffit/facia.
Age/condition of the HVAC
Age/condition of the water heater and all the appliances in the house.
Age/condition of any exterior features: concrete drive way, sidewalk, patio, porches.
Age/condition of the siding (if it's a brick house how does the tuckpointing look? )
Age/condition of the windows (and screens)
Age/condition of any out buildings (sheds, garage)
Then think about how much life is left in these things and how you will pay to replace or repair.
Are you willing to live with some of the things that are in working condition but dated.
I would go room by room and do another punch list:
What needs to be done to each bedroom: new light fixture? repair/paint walls? re-carpet? repair closet doors? add shelves/storage solution to closets?
What does each bathroom need: new light fixture? new faucets (tub and sink?) Hows the drain under the vanity? New vanity? hows the toilet does it wobble? run endlessly? do you want a chair hieght toilet? Is there an exhaust fan? (You WANT an exhaust fan). What kind of shower - sliding glass doors on top of tub? shower curtain? Will you paint the room?
What does the living room need? Paint? new light fixtures? new carpeting? window treatments? (does the fireplace need to be inspected? repaired? Chimney swept?) Any closets for coats? what does it need?
What does the kitchen need? paint? how's the floor can you live with it? Can you live with the appliances, counters, kitchen cabinets? Does any of it need a "clean up"? New light fixtures?
Check the laundry area - is there a vent for the dryer (I look at really really old homes owned by really really old people who have lived there for decades...) New appliances? a new utility sink?
If there house has a sump pump - is there battery backup? how old is the pump/battery?
Do this for each area of the house. REview the list and then group the things you absolutely MUST do to make the house feel like a home (probably paint and recarpet/re floor maybe a new comfort height toilet and an exhaust fan in a bathroom). Think about how much it may cost to do these "redecorating" things. Next group together things you would like to do - new light fixtures, etc.
The final group would be "pie in the sky future remodels" like tear out a wall to make it more open plan or add a bathroom by converting the back porch into "part of the living space".
Don't forget to look at the deck, patio, sheds, and garage and fences.
You need to come up with a "cost of doing your fix ups/repairs/replacements" from the first 2 groups on your punch list. And then factor that into what you pay for the house.
If this will be your primary home - figure cost of the "as is" house + the cost of the fixup/redecorating which should equal approximately what you would pay for a house already in move in condition. your "as is" house might be a little over that cost because you will have all the things you want in the as is house (the colors on the walls, the flooring, maybe the appliances) which you MIGHT have spend on in the "move in ready house".
If the cost of the house plus the basic fix ups is way more than the price of a similar move in ready house - you need to pay less for the house.
REmember - if the "as is" house was going to be prepped and sold as "move in ready" many of the repairs/maintenance/decorating you will do would need to be done would be done and paid for by the seller - thus upping the price of the house (and there's no reason to think the seller wouldn't do the least expensive but best looking fixups/repairs/decorating - which you may need to redo after you've lived in the house for a year or two.) .
It just means you will be doing all the "decorating" fixups - painting rooms (which may mean removing wallpaper, fixing all the nail holes and imperfections in the walls, etc). Re carpeting/refinishing wood floors/new vinyl flooring. Maybe you will want to install new light fixtures inside and outside. For example.
It also means you will be doing all the actual "fix ups" or taking care of any maintenance that hasn't been done for years.
All of these things cost money.
I would do a punch list of sorts.
Get info on the "systems" in the house:
Age/condition of the roof/gutters/soffit/facia.
Age/condition of the HVAC
Age/condition of the water heater and all the appliances in the house.
Age/condition of any exterior features: concrete drive way, sidewalk, patio, porches.
Age/condition of the siding (if it's a brick house how does the tuckpointing look? )
Age/condition of the windows (and screens)
Age/condition of any out buildings (sheds, garage)
Then think about how much life is left in these things and how you will pay to replace or repair.
Are you willing to live with some of the things that are in working condition but dated.
I would go room by room and do another punch list:
What needs to be done to each bedroom: new light fixture? repair/paint walls? re-carpet? repair closet doors? add shelves/storage solution to closets?
What does each bathroom need: new light fixture? new faucets (tub and sink?) Hows the drain under the vanity? New vanity? hows the toilet does it wobble? run endlessly? do you want a chair hieght toilet? Is there an exhaust fan? (You WANT an exhaust fan). What kind of shower - sliding glass doors on top of tub? shower curtain? Will you paint the room?
What does the living room need? Paint? new light fixtures? new carpeting? window treatments? (does the fireplace need to be inspected? repaired? Chimney swept?) Any closets for coats? what does it need?
What does the kitchen need? paint? how's the floor can you live with it? Can you live with the appliances, counters, kitchen cabinets? Does any of it need a "clean up"? New light fixtures?
Check the laundry area - is there a vent for the dryer (I look at really really old homes owned by really really old people who have lived there for decades...) New appliances? a new utility sink?
If there house has a sump pump - is there battery backup? how old is the pump/battery?
Do this for each area of the house. REview the list and then group the things you absolutely MUST do to make the house feel like a home (probably paint and recarpet/re floor maybe a new comfort height toilet and an exhaust fan in a bathroom). Think about how much it may cost to do these "redecorating" things. Next group together things you would like to do - new light fixtures, etc.
The final group would be "pie in the sky future remodels" like tear out a wall to make it more open plan or add a bathroom by converting the back porch into "part of the living space".
Don't forget to look at the deck, patio, sheds, and garage and fences.
You need to come up with a "cost of doing your fix ups/repairs/replacements" from the first 2 groups on your punch list. And then factor that into what you pay for the house.
If this will be your primary home - figure cost of the "as is" house + the cost of the fixup/redecorating which should equal approximately what you would pay for a house already in move in condition. your "as is" house might be a little over that cost because you will have all the things you want in the as is house (the colors on the walls, the flooring, maybe the appliances) which you MIGHT have spend on in the "move in ready house".
If the cost of the house plus the basic fix ups is way more than the price of a similar move in ready house - you need to pay less for the house.
REmember - if the "as is" house was going to be prepped and sold as "move in ready" many of the repairs/maintenance/decorating you will do would need to be done would be done and paid for by the seller - thus upping the price of the house (and there's no reason to think the seller wouldn't do the least expensive but best looking fixups/repairs/decorating - which you may need to redo after you've lived in the house for a year or two.) .
Re: Thoughts / Recommendation on Buying "As-Is" House
Agreed. The person who owned the house passed away. So the family members are not much aware of what was done to the house, etc.andypanda wrote: ↑Thu Sep 16, 2021 12:17 pm I believe you need to consult a New Jersey real estate lawyer. I thought New Jersey required disclosure even if the sale is as is.
googled up at random:
www.earlwhite.law/sell-house-as-is-new-jersey/
Read it all, but here's one paragraph.
"“As Is” Clause and Disclaimers. Sellers cannot eliminate their disclosure obligations with an “as is” contract clause or a general contract disclaimer. See Dalmazio v. Rosa, No. A-3635-12T1 (Super. Ct. App. Div. Feb. 20, 2015) (“In the context of a real estate sale, a sufficient misrepresentation occurs if the seller fails to disclose on-site defective conditions if those conditions were known to them and unknown and not readily observable by the buyer. A contract that purports to sell real property ‘as is’ or in its ‘present condition,’ is nevertheless subject to rescission or monetary damages where the seller fails to disclose or conceals material defects in the property which are actually known or constructively known to the seller, but not readily apparent to the buyer.”); ABDM Props., Ltd. Liab. Co. v. Meusz, No. A-4556-15T4 (Super. Ct. App. Div. Aug. 23, 2017) (“Courts have also refused to enforce ‘as is’ or ‘no warranties’ clauses to defeat concealment of latent defects claims.”)"
Re: Thoughts / Recommendation on Buying "As-Is" House
Sounds like the estate wants to get rid of the house ASAP. I’d find a good home inspector and let them do a full report. You’ll probably be able to do a short closing if you’d like, too.
- CommitmentDevice
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Re: Thoughts / Recommendation on Buying "As-Is" House
Not all inspectors are equal. Get a good one (lots of good reviews on AngiesList should suffice). Shadow the inspector as they do the walkthrough.
- tennisplyr
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Re: Thoughts / Recommendation on Buying "As-Is" House
+1 I wouldn’t buy unless you’re allowed to get an inspectionIMO wrote: ↑Thu Sep 16, 2021 10:57 am The concept of "as is" in it itself isn't that negative. It can mean that the person selling the house doesn't want to be dealing with someone nit picking for this/that to be fixed as part of a sale.
This shouldn't be confused with buying a home without inspection that people have been doing in the recent housing craze. An "as is" home should be very carefully inspected prior to purchase so that you understand what needs to be repaired/replaced and you can factor that into a reasonable offer.
“Those who move forward with a happy spirit will find that things always work out.” -Retired 13 years 😀
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Re: Thoughts / Recommendation on Buying "As-Is" House
The items mentioned are cosmetic and are among the least important concerns when inspecting a house. OPs should be concerned about structural issues and the state of repair of major systems (heating, plumbing, etc.). This is what an inspector is needed for and this is what he should focus on.outlierZ wrote: ↑Thu Sep 16, 2021 10:51 am We (34M&F) are planning on putting an offer on the house which is on market. We are buyers in New Jersey. The house is marketed to be sold in "As-Is" condition. Moreover, this is an estate sale. The house is in a great school district with close proximity to Train Station. This house in our opinion is not move-in ready but needs some touch-ups. Following are few items which we noticed when we saw the house:
- Old Carpets (Have hardwood floor underneath)
- Main Window needed to be replaced due to fogging
- Kitchen / Bathroom needs an update (possibly down the line).
As-is means there are no disclosures and the seller is not willing to make any repairs, etc. This would be typical of an estate sale and would not be an immediate red flag. There is more than the usual possibility of deferred maintenance.
Re: Thoughts / Recommendation on Buying "As-Is" House
Thank you very much! This is a very thorough response and we will certainly create the punch listLittleMaggieMae wrote: ↑Thu Sep 16, 2021 12:23 pm I primarily buy "as is" houses. Nothing wrong with them...
It just means you will be doing all the "decorating" fixups - painting rooms (which may mean removing wallpaper, fixing all the nail holes and imperfections in the walls, etc). Re carpeting/refinishing wood floors/new vinyl flooring. Maybe you will want to install new light fixtures inside and outside. For example.
It also means you will be doing all the actual "fix ups" or taking care of any maintenance that hasn't been done for years.
All of these things cost money.
I would do a punch list of sorts.
Get info on the "systems" in the house:
Age/condition of the roof/gutters/soffit/facia.
Age/condition of the HVAC
Age/condition of the water heater and all the appliances in the house.
Age/condition of any exterior features: concrete drive way, sidewalk, patio, porches.
Age/condition of the siding (if it's a brick house how does the tuckpointing look? )
Age/condition of the windows (and screens)
Age/condition of any out buildings (sheds, garage)
Then think about how much life is left in these things and how you will pay to replace or repair.
Are you willing to live with some of the things that are in working condition but dated.
I would go room by room and do another punch list:
What needs to be done to each bedroom: new light fixture? repair/paint walls? re-carpet? repair closet doors? add shelves/storage solution to closets?
What does each bathroom need: new light fixture? new faucets (tub and sink?) Hows the drain under the vanity? New vanity? hows the toilet does it wobble? run endlessly? do you want a chair hieght toilet? Is there an exhaust fan? (You WANT an exhaust fan). What kind of shower - sliding glass doors on top of tub? shower curtain? Will you paint the room?
What does the living room need? Paint? new light fixtures? new carpeting? window treatments? (does the fireplace need to be inspected? repaired? Chimney swept?) Any closets for coats? what does it need?
What does the kitchen need? paint? how's the floor can you live with it? Can you live with the appliances, counters, kitchen cabinets? Does any of it need a "clean up"? New light fixtures?
Check the laundry area - is there a vent for the dryer (I look at really really old homes owned by really really old people who have lived there for decades...) New appliances? a new utility sink?
If there house has a sump pump - is there battery backup? how old is the pump/battery?
Do this for each area of the house. REview the list and then group the things you absolutely MUST do to make the house feel like a home (probably paint and recarpet/re floor maybe a new comfort height toilet and an exhaust fan in a bathroom). Think about how much it may cost to do these "redecorating" things. Next group together things you would like to do - new light fixtures, etc.
The final group would be "pie in the sky future remodels" like tear out a wall to make it more open plan or add a bathroom by converting the back porch into "part of the living space".
Don't forget to look at the deck, patio, sheds, and garage and fences.
You need to come up with a "cost of doing your fix ups/repairs/replacements" from the first 2 groups on your punch list. And then factor that into what you pay for the house.
If this will be your primary home - figure cost of the "as is" house + the cost of the fixup/redecorating which should equal approximately what you would pay for a house already in move in condition. your "as is" house might be a little over that cost because you will have all the things you want in the as is house (the colors on the walls, the flooring, maybe the appliances) which you MIGHT have spend on in the "move in ready house".
If the cost of the house plus the basic fix ups is way more than the price of a similar move in ready house - you need to pay less for the house.
REmember - if the "as is" house was going to be prepped and sold as "move in ready" many of the repairs/maintenance/decorating you will do would need to be done would be done and paid for by the seller - thus upping the price of the house (and there's no reason to think the seller wouldn't do the least expensive but best looking fixups/repairs/decorating - which you may need to redo after you've lived in the house for a year or two.) .
Re: Thoughts / Recommendation on Buying "As-Is" House
That's a great suggestion and I am thinking of having one very soon.CommitmentDevice wrote: ↑Thu Sep 16, 2021 5:08 pm Not all inspectors are equal. Get a good one (lots of good reviews on AngiesList should suffice). Shadow the inspector as they do the walkthrough.
Re: Thoughts / Recommendation on Buying "As-Is" House
"As-is means there are no disclosures and the seller is not willing to make any repairs, etc. "
Are you certain about the no disclosures part? Have you read your state law and/or the federal real estate regs?
I sold my home as-is last year without an agent, but with the assistance of a lawyer. I disclosed everything I could possibly think of after 40 years of owning it.
Some were required - like asbestos - and most weren't. Virginia is a buyer beware state when it comes to real estate sales, but there's no reason not to disclose what you know. Fwiw, the buyer brought a general contractor buddy on one of the walk throughs and the the guy said he'd buy it if his friend didn't. I wasn't giving it away either, just not fixing it up and doing the needed 3rd interior renovation. A house built in 1916 needs a lot of attention and I'd done the roofs, gutters, parapet wall covering, and even rehung all and replaced some of the slate on the front. The inside? I got married and decided to move on.
Got top dollar in a hot area, even with the plastic wrapped white insulation on the radiator pipes in the unfinished basement. Is it asbestos? I don't know, never had it tested, but it must be. So decades ago I just wrapped them in heavy heat-shrink plastic and called it encapsulated.
I must have an honest face, or the full disclosure was encouraging.
Are you certain about the no disclosures part? Have you read your state law and/or the federal real estate regs?
I sold my home as-is last year without an agent, but with the assistance of a lawyer. I disclosed everything I could possibly think of after 40 years of owning it.
Some were required - like asbestos - and most weren't. Virginia is a buyer beware state when it comes to real estate sales, but there's no reason not to disclose what you know. Fwiw, the buyer brought a general contractor buddy on one of the walk throughs and the the guy said he'd buy it if his friend didn't. I wasn't giving it away either, just not fixing it up and doing the needed 3rd interior renovation. A house built in 1916 needs a lot of attention and I'd done the roofs, gutters, parapet wall covering, and even rehung all and replaced some of the slate on the front. The inside? I got married and decided to move on.
Got top dollar in a hot area, even with the plastic wrapped white insulation on the radiator pipes in the unfinished basement. Is it asbestos? I don't know, never had it tested, but it must be. So decades ago I just wrapped them in heavy heat-shrink plastic and called it encapsulated.
I must have an honest face, or the full disclosure was encouraging.
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Re: Thoughts / Recommendation on Buying "As-Is" House
"as-is" is a statement of their willingness to make repairs and haggle. It doesn't mean much else, although houses listed that way are often estate sales and in need of repair. Get a good inspection, which you should do anyway, and go from there.
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Re: Thoughts / Recommendation on Buying "As-Is" House
OP says the house is an estate sale. In such cases the disclosure document exists but contains almost all entries will be "don't know".
Because the person who knows all this stuff...is dead.
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Re: Thoughts / Recommendation on Buying "As-Is" House
About 10 years ago, I sold my parents house (estate) "as is" on the recommendation of the realtor. If I remember correctly, his (the realtor's) contention was that this is normal in Indiana for estate sales. I believe the thought was that the executor (me) did not have intimate knowledge of the house as I did not live there. This was certainly true in my case. Though I lived only 15 miles away, I had not lived in that house for over 20 years. I had helped with the maintenance on occasion, I did not know (although I had ideas) what the house needed. There was an inspection by the buyers and I agreed to fix a couple of issues, but I don't recall this being a show stopper.» Thu Sep 16, 2021 11:51 am
So I am hoping some one can please share their thoughts on Estate sale and especially houses which are sold in "As-Is" condition. Any pro/cons, anything to keep in mind or wish you had done, etc.
Re: Thoughts / Recommendation on Buying "As-Is" House
"OP says the house is an estate sale. In such cases the disclosure document exists but contains almost all entries will be "don't know".
Because the person who knows all this stuff...is dead."
You don't know how much the person or persons handling the estate knows about the condition of the property. The person in charge could be a son or daughter who handled the repairs, contractors and bill paying for a decade or more. They could have complete records/receipts of everything ever done or even priced but not completed.
Because the person who knows all this stuff...is dead."
You don't know how much the person or persons handling the estate knows about the condition of the property. The person in charge could be a son or daughter who handled the repairs, contractors and bill paying for a decade or more. They could have complete records/receipts of everything ever done or even priced but not completed.
- firebirdparts
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Re: Thoughts / Recommendation on Buying "As-Is" House
I think it would be wonderful; you can fix whatever you need to. It's a strange time; there is a housing shortage, but there are vacant and abandoned houses all over. There is a big market among unskilled people who want to be in love with the house, and so there are benefits outside that market, such as the better and older neighborhoods depending on what lifestyle you want.
My dad is 82. His house has all sorts of piddly stuff that a reasonable younger person would fix. The bones of it are truly masterful. My advice would be make sure you don't have any water coming in, above or below. Take a good look at the electrical; try to avoid having a fire due to anything that is grossly incompetent. Then go from there.
Expect contractors to all be liars and drug addicts and act accordingly. You can employ them if you want, but you need to employ them as if you'd employ a junkie. Some of them are not, but that's the safer way to bet.
This time is the same
Re: Thoughts / Recommendation on Buying "As-Is" House
Thank you all for your feedback/advice! I have another follow up question:
This house was built in 1962. We were told the previous inspection led to the identification of Asbestos in the ceiling wall. How common is that for such an old house? What are the options we have? Should we do the Asbestos test (sold at home depot, etc.) or just pass the house? Again, this house is in New Jersey.
This house was built in 1962. We were told the previous inspection led to the identification of Asbestos in the ceiling wall. How common is that for such an old house? What are the options we have? Should we do the Asbestos test (sold at home depot, etc.) or just pass the house? Again, this house is in New Jersey.
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Re: Thoughts / Recommendation on Buying "As-Is" House
The seller/agent should not be relied on, I’d definitely get a thorough inspection.
Moreover, I would not hire a standard “home inspector” (some are good, too many suck, and the rest are mediocre). If it was me, I would bite the bullet and hire an engineer who does home inspections. They will cost significantly more, but could save you tens of thousands of dollars, not to mention a lot of heartburn and aggravation.
- LiveSimple
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Re: Thoughts / Recommendation on Buying "As-Is" House
If you like the location buy the house and fix to your necessities.
Sometimes you are ahead of the competition and price, in these scenarios.
Sometimes you are ahead of the competition and price, in these scenarios.
Invest when you have the money, sell when you need the money, for real life expenses...
Re: Thoughts / Recommendation on Buying "As-Is" House
"the house was built in 1962"
I would expect it to have asbestos somewhere. The question is where and what condition is it in.
Here's one site I found with a quick google search. www.asbestosnetwork.com/worker-safety/a ... n-the-home
"Many homes built before 1980 contain asbestos in old floor tiles, ceiling tiles, roof shingles and flashing, siding, insulation (around boilers, ducts, pipes, sheeting, fireplaces), pipe cement, and joint compound used on seams between pieces of sheetrock. Some newer houses may also contain asbestos.
Some homes may also contain vermiculite attic insulation contaminated with asbestos."
"If asbestos-containing material is currently in good condition and contained such that fibers cannot be released, then it may not be dangerous at this time. However, the situation should be monitored for signs of asbestos deterioration and damage.
In some cases, asbestos-containing materials may be repaired or isolated rather than removed. For example, small tears in pipe insulation may be repaired. Asbestos material that is in good condition may be isolated from potential damage by using a sturdy, airtight barrier. This can be a temporary solution to some asbestos problems. Encapsulants have been used over sprayed-on asbestos-containing material on walls and ceilings. Encapsulants are materials applied in liquid form to provide a seal against the release of asbestos fibers. They can work well for asbestos-containing material that has not been damaged, but do more harm than good if the material is deteriorating."
I would expect it to have asbestos somewhere. The question is where and what condition is it in.
Here's one site I found with a quick google search. www.asbestosnetwork.com/worker-safety/a ... n-the-home
"Many homes built before 1980 contain asbestos in old floor tiles, ceiling tiles, roof shingles and flashing, siding, insulation (around boilers, ducts, pipes, sheeting, fireplaces), pipe cement, and joint compound used on seams between pieces of sheetrock. Some newer houses may also contain asbestos.
Some homes may also contain vermiculite attic insulation contaminated with asbestos."
"If asbestos-containing material is currently in good condition and contained such that fibers cannot be released, then it may not be dangerous at this time. However, the situation should be monitored for signs of asbestos deterioration and damage.
In some cases, asbestos-containing materials may be repaired or isolated rather than removed. For example, small tears in pipe insulation may be repaired. Asbestos material that is in good condition may be isolated from potential damage by using a sturdy, airtight barrier. This can be a temporary solution to some asbestos problems. Encapsulants have been used over sprayed-on asbestos-containing material on walls and ceilings. Encapsulants are materials applied in liquid form to provide a seal against the release of asbestos fibers. They can work well for asbestos-containing material that has not been damaged, but do more harm than good if the material is deteriorating."
Re: Thoughts / Recommendation on Buying "As-Is" House
delete
Last edited by TT on Tue Feb 06, 2024 3:52 pm, edited 1 time in total.
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Re: Thoughts / Recommendation on Buying "As-Is" House
You want to inspect the big ticket items which can bite you later with large bills for replacement, repair or enviro remediation -
- foundation / drainage
- water damage - mold/fungus in ceilings, walls, floors
- roof and attic condition
- plumbing vintage (galvanized? expensive to replace it all)
- wiring vintage (low voltage? knob? Zinsco breaker box?)
- fireplace/chimney
- termite/pest infestation and/or damage
And get a survey to ensure no issues with the neighbors about property lines, easements or encroachments.
- foundation / drainage
- water damage - mold/fungus in ceilings, walls, floors
- roof and attic condition
- plumbing vintage (galvanized? expensive to replace it all)
- wiring vintage (low voltage? knob? Zinsco breaker box?)
- fireplace/chimney
- termite/pest infestation and/or damage
And get a survey to ensure no issues with the neighbors about property lines, easements or encroachments.
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Re: Thoughts / Recommendation on Buying "As-Is" House
^^^ This
Also check:
- the age and working order of the mechanicals (AC, furnace, water heater, etc.) and appliances.
- septic, well, sump pump/drain systems, if any
Walk the property and look for major issues - debris/junk, trees in poor condition/location, property sloping towards rather than away from house which may carry water to house, condition of any structures like fence, shed, pool etc.
Also check:
- the age and working order of the mechanicals (AC, furnace, water heater, etc.) and appliances.
- septic, well, sump pump/drain systems, if any
Walk the property and look for major issues - debris/junk, trees in poor condition/location, property sloping towards rather than away from house which may carry water to house, condition of any structures like fence, shed, pool etc.