Real estate consumers may be familiar with the term as-is. As a seller, it may appear to be a great term to use, but it is important to recognize how a buyer may perceive it. The following is what you need to know about listing your Southern NH house as-is.
Understanding What the Term As-Is Means
As-is means that a house is being sold in its present state. This applies to any issues that might exist, whether those problems are apparent or not. The buyer is responsible for performing an inspection to accurately assess an issues prior to finalizing the sale. The exact interpretation of as-is may vary from state to state based on the facts.
No matter whether the term as-is is used in a property sale, home sellers still have a obligation to disclose any known facts. The use of as-is does not empower home sellers to hide issues. This is critical for sellers to understand.
Encountering the term as-is in a listing is often scary for first time buyers. Most conclude that it must have major concerns. For those that are prepared to accept a house as-is, they will historically offer less to reflect the as-is condition. Buyers may contact a lawyer to fully understand the potential risks.
How As-Is Benefits Sellers
Sellers frequently want to use the condition as-is to simply communicate that they will not negotiate any work on a house before closing. However, from a legal perspective, it means much more than that. The term is advantageous to a home seller given that it offers some scope of safeguard against future claims from a buyer. For home buyers, it can be a red flag and they must evaluate the house with caution.
Is Listing Your Southern NH House As-is a Good Idea?
There is no straight-forward answer to this question. Ask your listing agent about listing your Southern NH house as-is and whether it makes sense. He/she will also advise you on the influence it can have on selling price. If you do not already have an agent, contact Sharyn Kelley at Suburban Realty Inc. at 603-668-5757.