How you go about the purchase will determine if it is a wise decision or not. If you like the property and it’s the price you want to pay, it could be a great investment. However, there are some necessary steps you should take before completing the purchase.
Have the property inspected by a certified home inspector. Although the property comes “as is” you can still get a good idea of what you are in for and while the place may have some obvious issues, it’s important to know as much as you can about the areas that aren’t visible to you. Although you will have to pay to get a home inspected, it might end up saving you a fortune in the long run.
If you are in one of the States that requires the seller to provide a written disclosure, perhaps you feel that you don’t need to bother having a home inspection done on it. Sometimes a seller will omit important information, which means that this is not always reliable. Having the property inspected as well will show up any discrepancies in the disclosure and show you whether the seller is honest or not. If you find out the seller has been less than honest, you may decide not to buy from them.
To summarize then, buying a property “as is” can be a good option as long as you exercise caution and do whatever you can to find out the true condition of the place.