The term “as-is” may be used by a seller to describe a Champaign-Urbana home for sale and it can be very confusing for home buyers. What does it really mean if a home is being sold “as-is”?
When it comes right down to it, all homes are being offered “as-is.” In other words, the condition of the home when you view it is the condition you can expect it to be in when you close on the sale, minus any personal belongings (such as furniture) that the sellers will remove. If, however, there are things about the home that you would like the seller to change, then you can ask the seller to do so during negotiations. An example might be to repair a broken window or replace damaged flooring, depending on the circumstances.
Usually when a home owner states that he is selling his home in “as-is” condition, it means that the seller does not WANT to make any changes or repairs to the home. Does this mean that he absolutely will NOT make any changes or repairs? Sometimes. But not necessarily.
Even if the home is listed “as-is,” the buyer may still request to have a home inspection contingency. This would give the buyer a time period during which she could have the home inspected by a professional and ask the seller to either fix major issues or give her a credit for the expense. The seller does not have to agree to a home inspection nor does he have to agree to any repairs or credits. But if he refuses, then the buyer can opt to walk away and look for a different home.
Everything is negotiable when it comes to buying a Champaign-Urbana home. The outcome of the negotiations simply depends on what both the buyer and seller are willing to agree to.
Note: The information provided here is not to be construed as legal advice. For legal advice, please consult with an attorney.