Ask a real estate pro: Should i sign ‘as-is’ contract for recently renovated home?
Q: We are looking to purchase our new home from a real estate renovator who bought it last year and fixed it up. The contract has a lengthy, one-sided addendum making the sale “as-is” and releasing them from any issues with the renovations, including compliance with the building code. Should I sign it? — Gregg
A: Probably not unless you get a long time to check things out and ensure all the work was completed correctly.
Many real estate investors will purchase a distressed home and fix it up to sell it at a profit. Sometimes, everything is on the up and up, and the buyer gets a renovated home at a favorable price. However, some of these lack the skill, or the motivation, to do a good job and end up cutting corners.
Every buyer of a newly renovated home needs to be extra diligent to ensure all the work is done correctly.
Hiring a talented home inspector is always important, but it is crucial in this situation.
Remember that a home inspector is a “generalist.” If a problem is found, they recommend you follow up with a properly licensed specialist, such as a roofer, plumber, or electrician. You should follow this advice and get more detailed reports to ensure the house is in great condition.