If you are like many buyers, you’ve seen plenty of listings marked “as-is,” and you may even be considering buying one. But first, check out these five things to look for if you’re buying a home as-is.
5 Things to Watch for if You’re Buying a Home As-Is
Many people get great deals on homes listed for sale “as-is.” All that really means is that the seller is not willing to make any improvements to the home in order to get you to buy it. Often, if you’re willing to put in the work, you can get a fantastic bargain on one of these homes. However, there are five things you really need to watch for when you buy a house that’s being sold as-is:
- Foundation problems
- Un-permitted additions
- Roof damage
- Mold problems
- Previous flooding
Pro Tip: If the seller refuses to allow you a home inspection, run – it’s a clear sign that the seller has something to hide.
Scroll down to get a closer look at each of these red flags.
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As-Is Red Flag #1: Foundation Problems
If a home has cracks in its foundation, it may not last much longer. Though some cracks are okay, the chance that cracking will lead to major structural problems should certainly concern you. That’s because structural problems can cost tens of thousands of dollars to fix.
Related: Why your down payment matters
As-Is Red Flag #2: Un-Permitted Additions
Usually, home additions require special permits from the city to make sure they are performed properly and the resulting addition is safe. If you’re purchasing a home as-is and it clearly has an addition, you may want to ask the seller if they have any documentation that proves they had the appropriate permits. one reason this is so important is that you could be on the hook for any legal troubles that arise after you purchase the home.
As-Is Red Flag #3: Roof Damage
Roof damage is expensive to fix, and a roof replacement is even costlier. If a home you’re interested in buying has roof damage and the seller isn’t willing to make any repairs, you should have it inspected by a roofing company. Most roofing companies offer a free annual inspection, which you can use to determine how much it would cost you to make the necessary repairs (and whether it’s worth buying the home at its current price point).
Related: 7 red flags to watch for in any home purchase
As-Is Red Flag #4: Mold Problems
Mold can be very dangerous inside a home, so it’s important that the home you’re purchasing is mold-free. In addition to being very expensive to clean up and remove, it can cause serious health problems. Often, lenders don’t want to allow people to borrow money to buy mold-infested homes, so that’s another thing to keep in mind when you’re looking at homes that are being sold as-is.
Related: Home listings that say “cozy,” “needs TLC” or other interesting phrases
As-Is Red Flag #5: Previous Flooding
Though it’s not always easy to tell whether a home has water damage, you should ask the seller about any previous flooding, whether it was due to a septic system failure, natural causes, or something else. Water damage can foster mold growth, as well as cause a whole host of other issues, so it’s in your best interest to determine whether a home has had previous flooding or other types of water damage (such as from a leaky roof) before you sign the dotted line.
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