Understanding “As Is”

In addition to not having a disclosure at your disposal, foreclosure homes are often sold “as is,” meaning, for the most part, the owner of a bank foreclosure listing is not going to make any repairs to the property. In most cases, this does not mean that you are not entitled to an inspection. Often, you have a set amount of time to have an inspection and determine whether or not you still want to purchase the home. It is important that you read and understand all of the documents involved in purchasing a foreclosure very carefully.