Hi! I'm a newbie looking to purchase a 3 family owner occupied property as my first home in North Jersey.
I have seen a lot of as is buyers responsible for all city inspections and certificate of occupancy homes priced over $200K.
What does this mean?
Any tips and advice regarding purchasing this type of property?
Hey Quashema, usually AS IS means the sellers are unwilling or not able to fix anything on the property that may need attention. It just means you will be purchasing the property in its present condition. For Example, if there is a hole in the roof or structural damage you will have to pay to fix the damages. If the condition of the property is worse than you thought after the home inspection (which you will have to pay for) you can always back out of the deal. Just make sure that contingency is in the contract. Hope this info helps.
Thanks Jermaine for the feedback! I understand now