"As Is"

What does it usually mean (besides the obvious!) when a house is listed "as is"? Why would that be included in the listing? What problems with the house would you expect?

There is a house on my block that is for sale and is listed "as is". It is listed substantially lower than what 2 houses on our block sold for and what other houses in the area have sold for. Even if it needed major renovations, the price still seems off the mark for our area.

I'm just curious because the price seems so far off! TIA!

Re: "As Is"

Could be a short sale or a foreclosure, especially with a lower than market asking price. Banks almost always list "as-is" (even when the house is in decent shape) and they may be looking to encourage bids above the ask.

It also means the condition of the house is already reflected in the price and they're unlikely to make any repairs or concessions should the inspection uncover anything (ex: foreclosures are often missing appliances)

Re: "As Is"

As is to me- as a realtor means

"we don't have any money to repair what you find wrong during a home inspection so don't ask"

this is almost always true on a short sale or bank owned house-

and I have plenty of sellers who have to lower their price to their personal bottom line just to get out that there is no money left to cover a new boiler etc

if you want to FM me the MLS # I can give you my actual opinion on the property

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i've also learned it meant if the house does not have a C of O, they're not going to get it.

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Whether is a short sale, foreclosures, sellers not wanted to do the work, price reflecting house that needs work..... "As Is" means, what you see is what you get. Don't ask the sellers to fix anything.

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Thanks so much for everyone's answer! There are rumors that it is in foreclosure or close to it so I wonder if that has something to do with it.

Beth - I'll send you the link!

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Our house was as is, and it was a short sale. In fact the owners had already left the state a few months earlier so it literally meant exactly as is. Anything they had left in the house was still there when we got it so we had to clear out a lot of their stuff before we could do anything else!

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Our house was as is and was a situation where the family was selling the home of an elderly parent. Nothing terribly wrong with the house, the family just wanted to get the sale with the least amount of headache.

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