We have worked in the real estate market for many years and have only been so concerned with lending houses and short sales in recent years and have rarely had the unfortunate case that buyers had to buy an as-is house. The big question is whether it is really worth the home price savings.
It may be very good for some people. My recent experiences and the past few years of knowing what customers will find and spend after I started thinking twice about recommending this type of house to buyers without really letting them know what the future could bring.
Of course, a house inspection is a good step to hopefully avoid additional costs after closing the house, but the buyer has to be careful that an inspection does not always show everything that could be wrong with the house. Even the best house inspectors miss things. Air conditioners that seem to be working properly may need to be really expensive to repair or even replace – as is the case with a recent $ 10,000 I shutdown that the savings on this house are certainly not worth.
Not only do you have so many uncertain problems, most of the time the house is in poor condition, and the time and money you put into it later makes the difference between buying the same house in excellent condition and repairing problems and disclosures insured by the seller. Even some of the simplest things cost money like neglected landscaping and possibly dead plants and grass. Moving out of a short sale owner who doesn’t care about the condition later could damage the paint, doors, cabinets, carpeting, tiles, and holes in the walls. I have seen everything.
Keep in mind that in the event of a short sale, the sellers may live in the house, but once they have the bank’s approval and know that it will close without foreclosure, many homeowners move out to damage the house, or even take home furnishings mediate with the house. This is illegal and considered theft, but trying to catch them and get the equipment back could be more difficult and expensive than just replacing these items.
Be very careful when buying lenders and short sale houses, they are not always worth it. This doesn’t mean that some work wonderfully and you end up getting a lot of your dream home, but the buyer always has to be careful, especially if you buy an as-is home.
Nancy Niblett is a very successful real estate agent specializing in the Chandler region. Customers keep referring them. Nancy is one of the most successful award-winning agents and is currently on West USA Revelation. She has been awarded the 50 best single agents from the Phoenix Business Journals in the State of Arizona and is the best-selling agent in the 5th best-selling office in the State of Arizona.