Buying a Home As-Is

The Minnesota Association of Realtors just ran a great article on the details of buying a house from the bank as-is – especially if something happens before the day of the closing. The Minnesota Association of Realtors has a standard form for as-is purchases. A buyer should read it carefully before progressing.

Often banks however use their own forms and in the case that a buyer be asked to sign such a form, he should read it even more carefully – twice as those forms definitely favor the seller.

Many buyers are not aware of the pitfalls that can happen when purchasing a foreclosed property ,and in many cases, purchasing a foreclosed property is really for experienced buyers with backup cash to handle unknowns. For more information, visit the Minnesota Association of Realtors web site.

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