Back in the day the proliferation of inspectors wasn't as it is today. Seems like if the buyer liked the house they bought it and we all went on our way.

I remember back in 1998 we sold our house and had to hand the new owner a check for $4,000 for a new septic system before we closed.

With the short supply of homes on the market, has anyone attempted to sell their house "as is" and closed?

We don't have to sell our house, but we are playing with the idea of putting it on the market to see what happens.

"As Is" can mean a whole lot of different things. Standard contract forms refer to accepting the property in its current condition. The real issue with any form contract or a sales contract that is created is the duty/obligation to disclose known defects. If a seller knows of an issue/condition and fails to disclose that issue/condition then they are opening themselves up to several different claims - including fraud in a real estate transaction.

Agilaw said:

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"As Is" can mean a whole lot of different things. Standard contract forms refer to accepting the property in its current condition. The real issue with any form contract or a sales contract that is created is the duty/obligation to disclose known defects. If a seller knows of an issue/condition and fails to disclose that issue/condition then they are opening themselves up to several different claims - including fraud in a real estate transaction.

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So what I mean is that we disclose what we know and they have an inspector look at the house and we tell them we aren't fixing anything that is cosmetic.

Nothing is really wrong with the house. I just hear horror stories of buyers wanting a carpet allowance, painting allowance, etc...

To me, a home inspection is to determine if there are severe structural or mechanical defects - not cosmetic issues. A failed seal on a window is purely cosmetic, in my opinion.

And I understand, you may have to repair or replace your roof if the buyer's lender requires it for loan approval.

You can certainly do what you are saying. Disclose what you know and then let the Buyer inspect if they choose. The Buyer may come back and ask for some concessions from you after an inspection is performed. You can negotiate further on any such requests, or you can stand on your contract price. If you stand firm, the Buyer will then decide if they want to go through with the deal or opt out (assuming an option period is in the purchase contract).

We were advised by our agent to only request material defects, especially things that weren't visible or apparent in a showing, but not to request anything that would have been considered an "upgrade".

We sold the MIL's house a couple of months ago "as is". Listed all known issues and stipulated that nothing known or discovered on inspection would be repaired. No allowances of any kind. Just a take it or leave it deal. Got a full price offer in 12 hrs, and they took it.

Rexter said:

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We sold the MIL's house a couple of months ago "as is". Listed all known issues and stipulated that nothing known or discovered on inspection would be repaired. No allowances of any kind. Just a take it or leave it deal. Got a full price offer in 12 hrs, and they took it.

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Can you give examples of some things that were known, but not repaired?

I advise my buyers to always get an inspection with the understanding that cosmetic issues are already covered in the price. We are only looking for safety issues and mechanical failures.

Yes, sold my house five years ago to a guy who did flips, built new homes, had a realty company, staff lawyers, etc. it was a quick deal, gave me 30 days to move, got within ~$5K of going the traditional route.

rlb28 said:

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Rexter said:

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We sold the MIL's house a couple of months ago "as is". Listed all known issues and stipulated that nothing known or discovered on inspection would be repaired. No allowances of any kind. Just a take it or leave it deal. Got a full price offer in 12 hrs, and they took it.

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Can you give examples of some things that were known, but not repaired?

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B
The house had previous foundation repairs, and there were no Sheetrock/trim repairs done after that, so there were tears in Sheetrock tape and gaps in molding. Water heater sat on floor. Septic system had not been updated to aerobic….to name a few.

Sold mine AS-IS to an investor a few years ago. No inspection. He only thought he got a good deal.

Roofing is a hot item for real estate. I have a lot of Realtors that I work with. The roof seems to be one that come sup whether it needs it or not so you should have this checked out first for yourself. I just finished one this week that was a "hey, we close next week and the lender wants a new roof so can you do this in 4 days?" Kind of deal. I did. But, there is a tremendous amount of stress associated with that for all parties involved. In fact, a lot end up like this for some reason.

Get it checked out. If it's bad, decide if you are or are not paying for it so you can disclose it. If it's good, a roofer can provide a document stating that fact. They charge for it but it provides a measure of peace of mind.

I agree that the roof is one of the critical items to be inspected. I urge my Buyers to have a separate roof inspection performed by a roofing contractor. If your agent has a good relationship with a couple of very reputable roofing contractors, you can often have this performed for free or minimal cost.