One of the most common questions we get when working with buyers is about the listing statement "as-is." This is one of the most frequently misunderstood comments in the listing description. Most people assume that when an offer is given on a property advertised "as-is," that you have to have done all inspections necessary prior to the offer. This is NOT true. A good buyer's agent will make sure that the home inspection contingency is preserved.
You've made the offer and it's been accepted....now what? What are the reasons you might still want to walk away from an escrow. What to watch for and what should you be considering at this point. This article addresses these items and helps you to decide if you should continue with the home purchase.
Other aspects of a neighborhood are best discovered by firsthand experience of an area so that you can see the atmosphere for yourself. If you are seriously considering buying a home, take some time to not only thoroughly inspect the property, but also use the opportunity to find out what you can about the neighborhood as well.
Many bargain-hunting homebuyers have found an edge in their foreclosed home search. By doing Internet searches, they come to negotiating tables knowing pertinent information such as prices, schools, transportation and neighborhoods.
It's rare that a purchase offer is accepted without allowing for a home inspection contingency. Just because they are advertising "As-is" does NOT mean that you are not entitled to investigate the condition of the home. If the home is a bank-owned, this investigation is especially important because they do not give you disclosures, they do not have any first hand knowledge of problems and you will have to discover them completely on your own.
An interactive mapping application on the city's website called 'Where's My House' allows users to type in the address of a property, and find out instantly whether it falls within the city boundary. If it does, it naturally qualifies for City Services. Not only will potential buyers be assured that it will receive the standard services, as provided by the city of Greenville, but they can discover multiple details about the neighborhood.
Consider having a chat with residents and see what they have to say about the area, and indeed the house you maybe looking at. They may have spotted repeat visits from the Pest-Off van over the years or be aware of serious flooding issues at the property. They may be able to warn you of some less than community-minded local inhabitants.
Several agencies in a Washington county will conduct a foreclosed home search as part of the initiative to purchase foreclosure properties. The initiative includes rehabilitating the foreclosed home or buying them for rent to homeless or low-income families.
A foreclosed home search will reveal the extent of the oversupply problem as well as procedural shortcomings. U.S. legislators are currently looking at these.
Print This Article
Add To Favorites