Negotiating on a house you are buying is a normal part of any real estate deal, but many people wonder if they can negotiate on a house that a person is selling as-is. An as-is house is different than a house that is not being sold as-is, but you can still negotiate in certain ways if you are buying a house like this.
To understand how a transaction occurs with an as-is home, you must understand the definition of what this really means. A person selling his or her home as-is lists the home for sale in its current condition. The seller still discloses any known problems or issues with the house but is saying that this is how the house will come – issues and all.
The seller is telling buyers that he or she will not make repairs or modernizations to the house. The seller simply wants to sell this property in its current state. A house advertised as-is may or may not have big issues with it.
What you cannot negotiate on
While there are things you can negotiate on with an as-is house, there is one main thing you cannot negotiate. You cannot ask the seller of this home to make repairs on it. You can get a home inspection to find out if there are other issues that were not disclosed, and you should get one, but you cannot request repairs or changes.
A person is selling as-is primarily because he or she does not want to invest any money into the house, and the asking price of the house should reflect the home's current condition.
What you can negotiate on
There are several things you could negotiate on with an as-is home, and the price is the main thing. Just because a seller is asking a certain price does not implicate you have to pay that price. You have the choice to offer a lower price if you want, and the amount you offer should factor in the actual value of the home.
Secondly, you can negotiate on the date of closing and on what things the seller leaves behind. If there is a certain piece of furniture that really fits in the home perfectly, you could ask for this item.
Coming across an as-is home for sale is not uncommon, but it may require different types of negotiations. To learn more about homes being sold as-is, contact a real estate agency like Rodney Bean Real Estate & Investment.Share