卖房可以“Sell as is"吗？

KK手记

卖房“Sell as is"合法吗？
最近很新兴的时髦词，卖房“Sell as is"。
连agent都帮腔。
感觉有诈。
如果承重结构as is，塌了；涂料as is，含毒；
卖房“Sell as is"的说法，有根据吗？

greenback

Usually not, but there is an insurance that covers major works too ... That's why you need a good inspector. For old houses, the sellers often use "sell as is" to shield from breakdowns in AC and other major house appliances because they can break down any time after 20/30 years ...

KK手记

Thanks for helping.
AC and other major house appliances is not exactly "house" or say not real property, so can be sell as is.
But real property has  alot code, regulation to limit it. Is here any rule to limit " sell real property as is"?

天地

Yes seller can sell "as is", but that does not mean seller can withhold any material facts that potentially may might cost money to fix. Seller must file seller disclosure form, "as is" only means the seller won't fix the problems even if they are aware and disclose the facts/problems. For example, if the seller discloses roof leak or cracks on the driveway, "as is" in this scenario means the seller will not spend money to fix these problems, as a buyer it is its choice whether to buy or not .

Lead paint is a must to disclose,it is  hazardous to health and has been banned since 1978 in the United States.

天地

KK手记 发表于 2012-10-30 09:50 PM
Thanks for helping.
AC and other major house appliances is not exactly "house" or say not real prop ...

what do you mean exactly, do you mean the property has code violation?

dsp

yes. you could. That is popular at peak time. Buyer needs to pay someone checking the quality before bid.

KK手记

天地 发表于 2012-10-30 11:45 PM
what do you mean exactly, do you mean the property has code violation?

I met 2 case:
1. As my post on Sep 23, 2012 "改变民宅的内部布局":
For this kind of interior addition, is it hard to get a city permit?
最近有个listing, 很漂亮，舒适的2房2浴，但因为是把原来的一大间卧房分割成2房，当2房卖，
买方拿不到银行贷款，卖方也很难办，不肯降价按1房的价格卖。
但是，如果降价按1房的价格卖，就能拿到银行贷款了吗？

不懂房主为什么不去申请city permit。那样的利弊如何?
我好想买，又不敢。问题太多。
有谁懂吗？

Later, I checked with County Assessor, was told: This unit can not sell, still violate the law.
This one, not allow to sell.
But, a lot buyer got cheated, until bank reject the loan, fall off the Escrow.
If a cash buyer, then, should get trouble real bad after purchase.

2. Another Condo for sell, asking $114k. Fall off the Escrow.
Then I checked it, it is in perfect condition, ready to move in condition.
I bid verbally by cash offer without buyer's agent.
Both agent and seller accept my offer verbally.
But they doesn't even ask my bank statement to see the cash available.
Only thing they do is
-ask me to close escrow immediately (like: can you close escroe next week?)
-want me to pay deposite $20k even before any paper work.

This $20k is very suspicious, some game in there.
So I said NO. I will pay only $2000~3000

After several pushing for $20k, the agent showed me a word: they will " sell as is".

I was very confused: how can they benifite from this $20k check (it should at lease has a note on Memo,
indicate to buy that condo) and how can they get benifited by "sell as is" term?

One possibility is: If I pay this $20k by check, even pay to agent or Escrow CO,
later, they may use " sell as is" game( like change some interior) to force buyer change mind, withdraw the buy offer.
Once the buyer withdraw the buy offer  after enter the escrow, the seller get that $20k.
The seller maybe a sister/ girl friend of the agent.
I believe there shouled be some code elimite "sell as is" in real estate field.
Where can people find it?

天地

KK手记 发表于 2012-10-31 08:13 AM
I met 2 case:
1. As my post on Sep 23, 2012 "改变民宅的内部布局":
For this kind of interior a ...

to answer your complicated issues in a simple way:

1. Lender is very risk aversion, they have their own appraisal done before approves the loan.  To legalize the floor plan and all work related may take a lot time and money to do, all the related work must be performed by the licensed professionals (architect, electrician, plumber, etc), easily runs over $10k depending on the scale of the improvement.  Also it may have the property tax issues as it is already in the record of the county assessor. A cash buyer needs to be very careful in buying this property.


2. This case sounds a little bit fishy, although the escrow (earnest money deposit) is totally up to the parties to negotiate, $20k seems to be a lot more than the norm.  If buyer has doubts,  due diligence shall be carefully performed. Without knowing the details it is difficult to predict the outcomes down the road. Anyway if the seller and sellers agent knowingly withhold any material facts that could hurt the buyer, they are both liable and the buyer can sue in the court. In any event the cash buyer should do all the DD upfront to avoid troubles, don't be a cheapskate, have all the necessary evaluations done even if a professional needs to be hired (appraisal, inspections, etc.) before buying.

KK手记

Thanks.
Still, I am trying to find out which Gov dept govers the real estate Ethic and Discipline.
Real estate is a very sensitive area, should have more supervision from Gov.

天地

KK手记 发表于 2012-10-31 11:52 AM
Thanks.
Still, I am trying to find out which Gov dept govers the real estate Ethic and Discipline.
...

It should be your state real estate division