Listing Your Franklin TN Property As-Is
You most likely have encountered the term As-Is. Sellers like to sell As-Is, but it is critical to learn how a potential buyer might feel about that term. Below is important information on listing your Franklin TN property As-Is.
What As-Is Means
As-Is means that a property will be sold in its existing condition. This covers any issues that are present, whether those issues are obvious or not. Buyers may perform an inspection to accurately assess any problems prior to finalizing the transaction. The precise interpretation of the term can differ by state depending on the specific circumstances.
Regardless of whether the term As-Is appears in a home sale, Sellers still have a obligation to share any known issues. The As-Is condition is not intended to allow home sellers to conceal issues. Sellers must keep this in mind.
What Home Buyers May Assume
Encountering an As-Is condition in a home sale is always alarming for most home buyers. Many assume that the property must have considerable issues. For buyers who are prepared to accept a sale As-Is, they will historically offer less to accommodate the As-Is condition. Buyers should contact an attorney to fully understand the possible risks.
The Advantage to Sellers
Sellers commonly use the term As-Is to merely disclose that they are unable to negotiate any work on a property before closing. However, from a legal context, it means much more. The term is useful to a home seller since it provides shelter against future claims from a buyer. For home buyers, it is usually a red flag and they should proceed cautiously.
Should You Consider Listing Your Franklin TN Property As-Is?
This is not really a simple answer. Contact Jim Eaton at Blueprint Realty, Inc. about listing your Franklin TN property As-Is and whether it is appropriate. He may also provide some guidance on the significance it may have on prospective offers.
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