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Real Estate Listing Essay

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"As-is". Two little words that can have a significant impact on a real estate listing. It means take it as it is or leave it, your choice. Is buying a house worth the risk? Perceived vs. Real Risk When a buyer sees a listing with the words "as-is" in it, alarm bells tend to go off. Questions come flooding into the brain. What is wrong with the property? What is the seller potentially hiding? How much money will need to go into the property to even make it habitable? Many buyers perceive an "as-is" listing as a high risk venture they don't want to get anywhere near. The reality is a bit different. An "as-is" listing is simply an effective way of telling a potential buyer that the seller cannot or will not negotiate fixes or credits on the …show more content…

If the seller knows there is a significant crack in the foundation that might not be detected during a normal inspection, he or she is obligated to disclose that to potential buyers. If the local laws require working smoke detectors, the seller must cover any costs associated with repairing or installing the detectors. Sellers often list a property "as-is" when they have no extra cash to sink into making needed repairs. This can happen in many different circumstances like an estate sale or short sale to avoid foreclosure. How Can a Buyer Mitigate the Risk of an "As-Is" Property? Practicing due diligence by getting thorough inspections can mitigate the risk of buying a house listed "as-is". Most residential real estate offers come with the contingency of getting satisfactory inspections. This remains true even with "as-is" real estate deals. A buyer should have inspections done by certified experts to get a thorough picture of what defects might be present in the house. Inspections should cover the structure of the home as well as its systems including plumbing, electrical, heating, cooling, and

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