Taylor Realty Group | Colorado Real Estate Experts

Serving Denver Metro & Boulder County Since 2004!

Serving Denver Metro & Boulder County Since 2004!
Voted 5280 Magazine's FIVE STAR REALTOR 11 Years Running!
303-669-2744
michael@taylorrealtygroup.net
  • Menu
  • Home
  • Search Homes
    • Featured Listings
    • All Listings
  • Buy
  • Sell
  • Lease
  • Blog
    • See All Posts
    • Buyer Tips & Advice
    • Seller Tips & Advice
    • Market Conditions
    • Mortgages & Loans
    • Homeowner Tips
    • Personal & Biz Updates
    • Just Sold!
  • Resources
    • Preferred Partners
    • Home Wealth Analysis
    • Instant Home Valuation
    • Find Best Realtors in US
  • About
    • Get To Know Us
    • Testimonials
    • Let’s Talk! (Contact Us)
    • Just Sold!

Buying a Home “As Is” in Colorado – 5 Things You Must Know

Sold As IsSo you want a good deal, eh? You have watched your fill of HGTV and know your local Home Depot folks by name, and are ready to buy a “fixer”! Or, perhaps you are wanting a “move in ready” house but stumble on a great listing online and it looks perfect….but that silly verbiage in the MLS listing says “AS IS”. If you are like most buyers, this brings up disturbing thoughts of the 80’s movie “The Money Pit” and you think, “What’s wrong with it then”! Well, here are a few bullet points to know when this happens.

1. AS IS Does NOT ALWAYS Mean Something is Wrong With It
The quick disclaimer that I am not an attorney blah blah blah…now here we go! What the verbiage AS IS in a sales contract means is that the seller is telling you upfront that you are buying the home in it’s current condition and they will not make any repairs or improvements if requested. That’s it.

2. Your Inspection Is For Informational Purposes Only and Not to Request Repairs
You are still able to write an inspection period in the contract and make the sale contingent on you getting an inspection unless the seller specifically states you must waive inspection. Now, after you have your pretty inspection report with digital photos (if you used a savvy inspector) and are reading it, you now must determine if you still want to buy the house. You now know (if you used a good inspector) everything that is wrong with the house and needs repair once you move in. Is it what you were expecting? Is it more? Is it less? You get to decide based on this information if you want to go forward with your offer.

3. Buyers Should Do a Pre-Inspection Prior to Offering

Since the inspection is for informational purposes only, I highly recommend doing a pre-inspection prior to making your offer. If you are doing the work yourself, then go back to the property when you are determining an offer price and you can calculate all your estimated repair costs so that you have an offer price that makes good financial sense. If you are having a contractor do the work, have him/her look at it and give you estimates so you can make an offer with these costs factored in.

4. You can Still Back Out After Inspection if It’s a “Money Pit”
You don’t have to buy the home if the inspection turns up anything you don’t want to tackle. Plain and simple. As long as you tell the seller by the inspection objection period you are covered and will get your earnest money (deposit) back.

5. If you are a “Normal Seller…Never Ever use the word AS IS” in your Marketing!
Banks will always market their homes “As Is”, but if you are a private owner and are selling your house, don’t use this verbiage! It scares buyers. They start thinking you are hiding something. Don’t do it. Let them do their inspection, if you know of ANY problems you legally have to disclose them anyway, and then be reasonable when it comes to any problems uncovered at inspection that you didn’t know about.

This is just a starting point and is not intended to replace the advise of a real estate professional. If you are considering buying a home I am happy put my experience to work for you. Give me a shout if you would like to talk further. My contact info is at the top right of this website. Mike

Posted in: Buyer Tips & Advice, Buying Foreclosures, The Blog

Comments

  1. carolyn says

    August 24, 2018 at 6:38 am

    I sold my home “ as is” and during time on market a hail storm came and I was told that by law I was required to fix hail damage so I did. Is this true or false?

    Reply
    • Michael Taylor says

      August 23, 2019 at 9:28 am

      If you were under contract when the storm occured then yes. If you were not then no. Sorry for the delay we had some glitches in our commenting software but are now back on track.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Post navigation

« 16861 E 107th Ave Commerce City CO (Reunion)
Mike’s Denver Real Estate Market Update Summer 2010 »

Blog Categories

    • ▼Buyer Tips & Advice (78)
      • Buying Foreclosures (7)
      • Buying Short Sales (4)
      • Mortgages & Loans (9)
      • New Construction & Home Builders (3)
      • Transaction Tips (10)
      • Working With A Realtor (4)
    • ►Seller Tips & Advice (68)
      • Market Conditions/Trends/Insights (7)
      • Listing & Marketing (7)
      • Offers – Negotiating – Closing (4)
      • Choosing A Realtor (3)
      • Short Sales FAQ (5)
      • Thinking About Moving (Deciding If It Makes Sense) (3)
    • Market Updates (56)
    • Homeowner Tips (24)
    • Mortgages & Loans (22)
    • Personal & Biz Updates (32)
    • Weird ‘n Wacky News (4)
Search for:
WHY Taylor Realty Group?
Best Broomfield CO Real Estate Agent RealtorColorado home buyers and sellers need a consultant, not a salesperson. Our “STRATEGIC” approach is committed to providing Expert Guidance & Friendly Personal Service.
  • Unique Marketing System For Sellers = More $$ / Faster Results
    Learn More
  • Buyer Consulting Services = Smart, Confident Purchases
    Learn More

Get Started: Contact Mike Now!

Testimonials: Success Stories

Honest, Liable and Knowledgeable in the Market

Well, we contacted Michael back on 2020, just to have a consultation. Then we called him back last year {2021) around June I believed, asking him question on when we should...

Hamir and Debbie Jabola
Phenomenal Team to Work With

Mike, Kindra, and Tami are a phenomenal team to work with during the house buying process! They took care of us from start to finish. In this insane market, they worked har...

Derek & Amanda Cary
Incredibly Grateful

We took our time to find a real-estate agent because we knew we were coming in from out of state. We knew we needed someone we could trust and that would have our best inte...

Joshua Titus
Felt welcomed, safe, listened to, and taken care of

We are pleased with the service. As members of multiple minority communities, we felt welcomed, safe, listened to, and taken care of.

Aous Mansouri
Very Honest and Upfront

Michael and his team were very honest and upfront. We appreciate all the help with this potentially stressful process.

Jaimie Stone

Read More Testimonials »

Socialize With Us!

Thinking About SELLING?
Seller Success Guide
  • What’s My Home Worth?
  • First 5 Things To Do
  • Interviewing Realtors: 16 Questions
  • Negotiating Like a Pro
  • Keep The Sale From Crashing

See SELLER Success Guide!

Thinking About BUYING?
Buyer Quickstart Guide
  • Clarify Your Goals
  • Choosing The Best Mortgage & Lender
  • How To Find Best Listings First!
  • Negotiate Best Possible Offer & Make Sure It Closes

See BUYER Quickstart Guide!

Homes For Sale By City

  • Arvada
  • Aurora
  • Boulder
  • Brighton
  • Broomfield
  • Castle Rock
  • Centennial
  • Commerce City
  • Denver
  • Englewood
  • Erie
  • Firestone
  • Frederick
  • Greenwood Village
  • Highlands Ranch
  • Lafayette
  • Lakewood
  • Littleton
  • Lone Tree
  • Longmont
  • Louisville
  • Northglenn
  • Parker
  • Superior
  • Thornton
  • Wheat Ridge
Let's Talk! How can I help?
First Name
Last Name*
Email
Comments
Lead Source

Contact Us

Taylor Realty Group

303-669-2744
michael@taylorrealtygroup.net

1499 West 120th Ave #110 Westminster CO 80234

Get Our Email Newsletter

Explore Cities

  • Arvada
  • Aurora
  • Boulder
  • Brighton
  • Broomfield
  • Castle Rock
  • Centennial
  • Commerce City
  • Denver
  • Englewood
  • Erie
  • Firestone
  • Frederick
  • Greenwood Village
  • Highlands Ranch
  • Lafayette
  • Lakewood
  • Littleton
  • Lone Tree
  • Longmont
  • Louisville
  • Northglenn
  • Parker
  • Superior
  • Thornton
  • Wheat Ridge

Meet Michael, Your Real Estate Agent

Real Estate Agent Broomfield Thornton Westminster Colorado Colorado home buyers and sellers need a consultant, not a salesperson. I specialize in Broomfield, Thornton, & Westminster real estate but am often referred to help people throughout Denver Metro & Boulder County! My commitment to you: Expert Guidance & Friendly Personal Service!
  • 5280 Magazine’s FIVE STAR REALTOR (2010-2017)
  • Featured on HGTV!
  • Top 5% of Realtors Nationwide!
  • Full Time CO Realtor Since 2004
logos-325

Meet Michael - Your Consultant

Voted 5280 Magazine's FIVE STAR REALTOR
Based on Overall Client Satisfaction (2010 - 2018) 

Taylor Realty Group | Since 2004

1499 West 120th Ave #110 Westminster CO 80234

© 2022 · Log in · Privacy Policy

MENU
  • Home
  • Search Homes
    • Featured Listings
    • All Listings
  • Buy
  • Sell
  • Lease
  • Blog
    • See All Posts
    • Buyer Tips & Advice
    • Seller Tips & Advice
    • Market Conditions
    • Mortgages & Loans
    • Homeowner Tips
    • Personal & Biz Updates
    • Just Sold!
  • Resources
    • Preferred Partners
    • Home Wealth Analysis
    • Instant Home Valuation
    • Find Best Realtors in US
  • About
    • Get To Know Us
    • Testimonials
    • Let’s Talk! (Contact Us)
    • Just Sold!