"As-is" is one of the most searched phrases in real estate, and one of the most misunderstood. Here is what it means when you sell a house in Lake County.
What As-Is Means
Selling as-is means you are not agreeing to make repairs. The buyer accepts the property in its current condition. With a traditional buyer, an as-is contract may still allow inspections, and the buyer may still walk away or try to renegotiate if they don't like what they find.
You Still Have to Be Honest
In Florida, sellers of residential property are generally required to disclose known facts that materially affect the value of the property and aren't readily observable to the buyer. As-is does not mean you can hide known problems. When in doubt, disclose, and ask a real estate attorney.
The Problem With Selling an As-Is House on the Market
Houses with major issues often struggle to sell to retail buyers because:
- FHA, VA and many conventional loans require the house to meet minimum condition standards.
- Insurance companies may not insure homes with old roofs or certain electrical panels.
- Buyers get scared off by inspection reports.
That leaves cash buyers, who don't need a lender to approve the house.
Tips If You Sell As-Is
- Get more than one offer and compare your net proceeds.
- Ask the buyer how they arrived at their price.
- Make sure the buyer has proof of funds and uses a reputable title company.
- Read the contract. Know how long inspection periods last and what deposit is at risk.
Our As-Is Promise
We buy houses in Eustis, Tavares, Leesburg and all of Lake County as-is. No repairs, no cleaning, no showings. We explain our numbers, use a local title company, and you pick the closing date. In most cases we pay all costs and make all repairs post closing. Call (352) 508-7373 for a no-obligation offer within 72 hours.