Buying a home “As-Is”: What does that mean here in Phoenix Arizona

Do you know what this really means to you as a Buyer? In most cases this means that the Seller is not providing any type of warranty on the property. The Seller will not fix any problems with the home. Perhaps it is being sold to settle an estate where the Seller inherited the property and has never occupied it. He may have no idea as to the condition of the roof, appliances and air conditioning system and does not want the liability of selling a “warranted” property having never lived in it. The property could also be a Bank-owned property sold in “As Is Condition”. As a rule, banks are not interested in giving warranties on foreclosed property even if it is a newer home. “As Is” could also be advantageous to the Buyer in this situation. Or it simply maybe be that Seller may not have to money to repair any problems found with the homes.

It can be beneficial for a Buyer to purchase a home “As Is with Right to Inspect”. This means that the Buyer is still allowed to have the customary inspections within a designated time period after the full execution of the contract by the Buyer and Seller.

Buying an “as-is” home does not necessarily mean there is a flaw or problem with the property. What it does mean is that the house is being sold in its current condition and the seller is stating upfront that he/she will not make any repairs to correct defects. That's if defects are found.

If you’re interested in buying an “as-is” home, it’s recommended that you hire a professional inspector to inspect the property during the inspection period, normally 10 days in Phoenix AZ. If possible, accompany the inspector as he/she does the inspection. An inspector should be able to identify any issues that might not be noticeable to the untrained eye.
An “as-is” home purchase can be a risky undertaking, but can also be a great buy.

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