What are some tips for finding homes sold "as is"?


Quick Answer

To find homes sold "as is," prospective homeowners should check websites that offer such homes and refine their search to the appropriate category, as Bankrate advises. They should also find realtors who work with banks and financial institutions that own foreclosures and distressed properties, which fall under the as-is category, to gain insights about the properties available. Individuals should compare the prices of comparable homes to find a good deal.

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Full Answer

Listings of properties sold as is are an ideal tool for finding a real estate agent who understands the local market, the finer details of listed homes and the properties that are yet to hit the market, according to Bankrate. A person should determine the pace at which comparable homes are selling in a given area to better understand the market conditions and the chances of finding a good deal.

Individuals should engage a licensed tradesman to assess the extent of repairs that a home needs, as Bankrate recommends. By making repair cost estimates, prospective homeowners can better determine whether to back out of a deal or to renegotiate with the seller, explains Scripps Networks. An individual should insist on a home inspection contingency, which lets the buyer back out of the contract if home inspections reveal major structural issues that require costly repairs, according to the Washington Post.

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