{"id":21548,"date":"2023-03-24T15:15:00","date_gmt":"2023-03-24T22:15:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21548"},"modified":"2023-03-22T14:22:50","modified_gmt":"2023-03-22T21:22:50","slug":"buying-a-home-as-is-checklist","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/","title":{"rendered":"Buying A Home &#8220;As-Is&#8221; Checklist"},"content":{"rendered":"<p style=\"text-align: justify;\">What does a home \u2018sold as-is\u2019 mean?<\/p>\n<p style=\"text-align: justify;\">When scrolling through listings, you may come across the term \u201csold as-is.\u201d This concept is vital to understand because it can significantly impact your transaction. So what does \u201csold as-is\u201d mean?<\/p>\n<p style=\"text-align: justify;\">In short, an \u201cas-is\u201d home ensures the seller is not responsible for any repairs or upgrades before the sale.<\/p>\n<p style=\"text-align: justify;\">The buyer agrees to purchase the property in its current condition and must take responsibility for any repairs or renovations after the sale. Typically, \u201cas-is\u201d applies when a seller needs to sell quickly or if there are significant issues with the property that would make it difficult or expensive to repair before selling.<\/p>\n<p style=\"text-align: justify;\">Homes sold \u201cas-is\u201d might be appealing since they are frequently less expensive than comparable properties. Ensure you know the advantages and disadvantages before purchasing an \u201cas-is\u201d house.<\/p>\n<p style=\"text-align: justify;\"><strong>Buying \u201cAs-is\u201d Checklist :<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 Do your due diligence when considering a \u201csold as-is\u201d purchase. You can make a better decision after performing a pre-offer home inspection.<br \/>\n\u2022 Inspect the property thoroughly and get an estimate of any potential repair costs they may incur after buying.<br \/>\n\u2022 Consider whether you are comfortable making repairs and renovations yourself or if you would prefer to hire professionals to do so.<br \/>\n\u2022 If you\u2019re considering renovations, talk to your salesperson about the possible long-term benefits of such changes. Even if they could be of interest to you, remember that almost all alterations that call for the replacement of major systems, the repair of existing ones, or the moving of walls need the application of local building permits.<br \/>\n\u2022 Set realistic expectations about how much it will cost and how long it will take to complete different projects. Consider all the potential costs, from materials and labour to closing costs and marketing expenses, if you plan on fixing to sell.<\/p>\n<p style=\"text-align: justify;\">There are many other reasons than repairs for which a seller would market a house in \u201cas-is\u201d condition. The seller may need to sell quickly, require more funds to pay for house improvements, may not have the luxury of waiting for workers to complete a big project or the property could have been inherited.. While \u201cas-is\u201d implies that the seller makes no promises regarding the property\u2019s functionality and is not obligated to offer a Seller\u2019s Disclosure, it does not always mean irreparable damage.<\/p>\n<p style=\"text-align: justify;\"><strong>Review Federal Housing Rules and Initiatives<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 Maybe you\u2019re looking for a \u201csold as-is\u201d home to create a supplementary apartment to accommodate family members who are older or have disabilities. Families could claim up to $7,500 in tax credits under the Multigenerational Home Renovation Tax Credit!<br \/>\n\u2022 The new Residential Property Flipping Rule guarantees that earnings from flipping residential real estate are fully taxed. Profits from selling residential properties, including rental properties, in possession for less than a year would be considered business income.<br \/>\n\u2022 Are you living there? If not, add a 1% yearly tax to your budget. The unoccupied tax applies to the value of any non-resident, non-Canadian property deemed unoccupied or underutilized.<\/p>\n<p style=\"text-align: justify;\">Sometimes there\u2019s a bit of a risk involved, but the payoff may be worth it if it is well-managed. If you\u2019re buying to flip, you might not be as concerned about making a few extra modifications to the home after closing. It\u2019s a great way to build wealth but can also be risky and time-consuming. However, buyers on a limited budget might not have the money to cover unforeseen problems in an \u201cas-is\u201d house.<\/p>\n<p style=\"text-align: justify;\">Both buyers and sellers need to understand this concept before entering any real estate transaction. Working with an experienced real estate agent is invaluable regarding \u201csold as-is\u201d listings. They can help explain the property details and even find undervalued properties! Ultimately, understanding what \u201csold as-is\u201d means can help buyers make informed decisions about their purchases and ensure they get a fair deal.<\/p>\n<p><a href=\"https:\/\/www.zoocasa.com\/blog\/buying-as-is\/\" target=\"_blank\" rel=\"noopener\">Buying A Home As-Is : What You Need to Know?<\/a> by Daniel Crook | zoocasa<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What does a home \u2018sold as-is\u2019 mean? When scrolling through listings, you may come across the term \u201csold as-is.\u201d This concept is vital to understand because it can significantly impact &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-21548","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buying A Home &quot;As-Is&quot; Checklist &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Buying A Home &quot;As-Is&quot; Checklist &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"What does a home \u2018sold as-is\u2019 mean? When scrolling through listings, you may come across the term \u201csold as-is.\u201d This concept is vital to understand because it can significantly impact &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Buying A Home &#8220;As-Is&#8221; Checklist\",\"datePublished\":\"2023-03-24T22:15:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/\"},\"wordCount\":651,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/\",\"name\":\"Buying A Home \\\"As-Is\\\" Checklist &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2023-03-24T22:15:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/03\\\/buying-a-home-as-is-checklist\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Buying A Home &#8220;As-Is&#8221; Checklist\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Buying A Home \"As-Is\" Checklist &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/","twitter_card":"summary_large_image","twitter_title":"Buying A Home \"As-Is\" Checklist &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"What does a home \u2018sold as-is\u2019 mean? When scrolling through listings, you may come across the term \u201csold as-is.\u201d This concept is vital to understand because it can significantly impact &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Buying A Home &#8220;As-Is&#8221; Checklist","datePublished":"2023-03-24T22:15:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/"},"wordCount":651,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/","url":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/","name":"Buying A Home \"As-Is\" Checklist &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2023-03-24T22:15:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2023\/03\/buying-a-home-as-is-checklist\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Buying A Home &#8220;As-Is&#8221; Checklist"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/21548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=21548"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/21548\/revisions"}],"predecessor-version":[{"id":21549,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/21548\/revisions\/21549"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=21548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=21548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=21548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}