When Arizona homes for sale are offered “as-is”, should I still get a home inspection?
In today's Arizona Real Estate market it is becoming increasingly more common to find homes being sold as-is.
What does “as-is” really mean?
It means that the property is being sold in its current condition, no repairs or credits will be given to the buyer for any repairs to the Arizona home for sale. What you see (or more importantly, don't see) is what you get. This is a common practice for Arizona bank owned properties as well as Arizona short-sale properties. In these situations no disclosures or warranties that will be given to the buyer.
Arizona Seller's Property Disclosure Statement (SPDS)
Typically when dealing with Arizona homes for sale, the seller completes a Seller's Property Disclosure Statement (SPDS) which gives the buyer all the information that the seller currently knows about the home. With Arizona bank owned properties, the bank has never occupied the home and has no knowledge of it's condition, therefore, no disclosures will be given to the buyer. This is also happening more and more on Arizona short sale homes if the owner has already vacated the home. Without these disclosures, the buyer has no idea of the current condition or any hint of the possible future problems the home may have.
Arizona Home Inspections
This is where a home inspection is crucial. A home inspector, who is hired by the buyer, will do a thorough inspection of the home including the roof, electrical, plumbing, wiring etc., and give the buyer a written report detailing the condition of the home. The buyer then has two options at this point, proceed with the purchase knowing the condition of the home and any possible repairs that might need to be made, or cancelling the contract due to the findings of the Arizona home inspection.
So, keep in mind that even though the Arizona home for sale that you are considering is being sold as-is and no repairs or disclosure will be made, it is important to have an Arizona home inspection to be fully aware of what you are buying.
