Franklin Green Real Estate Blog

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When a house is sold as is, does that mean it’s in horrible condition?

When a house is sold as is, does that mean it’s in horrible condition?

This is a question I’ve answered many times lately when working with buyers in Franklin and Spring Hill, Tenneessee just south of Nashville.  The answer is not necessarily.  There are various reasons a home might be sold in “as is” condition.  It simplifies the sale process when the owner doesn’t have to negotiate or make any repairs.  The buyer can still make the sale agreement contingent on an inspection satisfactory to them but the owner will not make any repairs.

Recently I showed a house where the owner was widowed and she wanted a quick and easy sale.  The home was priced a little under market value and offered "as is".  The property was beautiful & move in ready!  I understand it brought multiple offers in just a few days!  It is a more likely for homes to Franklin TN foreclosure home for saleneed work and have deferred maintenance if they have been foreclosed (bank owned properties) or those that are being sold as a short sale (for less than what the owners owe on the property).  These distressed sales commonly do not have the pride of ownership that you might see in a house that is occupied and cared for.Distressed house sale in Spring Hill TN  I've seen some foreclosures that are trashed and a few even had cabinets, light fixtues or other attached items removed!  I've also seen some foreclosures or short sales that need very little work, if any.

The moral of the story is don’t jump to conclusions that a house is in terrible condition just because it is sold as is with no repairs made.  Keep an open mind and look into the property a little further before you label it as a scary mess.  You might be pleasantly surprised and if not, you will have an interesting story!

Homes for sale Foreclosures in Franklin TN

If you would like more information about Homes in Franklin and Williamson County, please contact Tiffany White at 615-260-5858.

This post and its contents are the property of Tiffany White with Keller Williams Realty, providing real estate services to Franklin, Brentwood, Spring Hill, Nashville, Green Hills, Murfreesboro and surroundings areas of Middle TN.

 

Comment balloon 4 commentsTiffany White • October 07 2011 04:45PM

Comments

Thank, Tiffany for discouraging people from jumping to conclusions about, "As Is".

     I have 2 Listings coming up... one belongs to a senior citizen/widow who lives in another state.  The 2nd belongs to a divorcing couple.  Both houses are in great shape; but neither of these Sellers wants to do repairs or upgrades.

    The houses will go on the market  "As Is, Subject to Inspections".

Posted by Fred Griffin, Licensed Florida Real Estate Broker (Fred Griffin Real Estate) about 6 years ago

Hi Fred,  It really makes sense for the 2 owners you mentioned to sell their home as is just as a convenience to them.   For some reason buyers seem to assume the worst when they see those little words "as-is"!

Posted by Tiffany White, Franklin TN Real Estate (Keller Williams Realty - Franklin TN) about 6 years ago

Buyers agents need to do a better job in explaining AS IS.  In Texas our contract is an as is contract.  That does not stop a buyer from having a house inspected.

Posted by Richard Weeks, REALTOR®, Broker about 6 years ago

Good Morning Tiffany, We completed a transaction on a home that was bought under market price.  We priced it to meet our sellers goals which was still under market price.  We had to sort through many offers asking for repairs and closing cost.  We held firm and had the home under contract at full price, no repairs, no closing costs, in 16 days.

 

Posted by Phil Hillerman, Crye-Leike Realtors® (Crye-Leike Realtors®) about 6 years ago

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