“As Is” Homes
Buying a home “as is” can help you save thousands of dollars on the cost of the property. However, it can also mean moving into a home that has various issues that you were not aware of. Keep these tips in mind when thinking of investing in an “as is” home.
- Ask for help – hiring a professional real estate attorney can help to ensure that any laws that could protect you from spending serious cash to fix up the property are properly handled. If the seller has hired a real estate attorney to deal with the sale, it may be a sign that there are big issues that they are trying to hide.
- Always get an inspection – never skip out on the property inspection when considering buying an “as is” house. Typical property inspections cost around $400 and can let you know if there are any serious issues that will need to be fixed before you are able to move into the house.
- Do some math – once you know what is wrong with the house, calculate how much it is going to cost to do all of the necessary repairs. You can use all the information about what is wrong with the house to help negotiate a better price as well.
- Think about the financing – depending on the type of loan that you are looking for, you may not be able to buy an “as is” house. If the house needs a new roof, many lenders will not even write a loan.
No matter what type of house you invest in, you will need to find the right homeowners insurance policy to protect the property. Contact Idaho Insurance / Affordable Insurance in Caldwell when buying a home, no matter if it is a fixer upper or a brand new house.