The Pros and Cons of Buying and Selling "As-Is"

 Posted on June 17, 2025 in Real Estate

While the real estate frenzy has marginally settled down, it remains a seller’s market. Because of this, as a buyer, you are more likely to consider a property advertised as-is, and as a seller, you may be more likely to sell your property as-is. When a home is sold as-is, there are no obligations on the part of the seller to provide repairs, although any known problems must be disclosed.

A home sold as-is is being sold in its current state, with no upgrades or improvements prior to the sale. Whether you are a buyer or seller, there are pros and cons to an as-is real estate listing. It is always a good idea to discuss your real estate purchase or sale with an experienced Glen Ellyn, IL real estate lawyer. When you have an experienced real estate attorney by your side, you gain peace of mind, knowing you have a legal advocate looking out for you.  

Pros and Cons of Selling a Home As-Is

Selling a home as-is essentially tells buyers that the sale is a "take-it-or-leave-it" situation. An as-is home is not necessarily the same as a "fixer-upper." It only means that there are one or more known issues that the seller chooses not to fix in return for a lower price. There are a variety of reasons a seller may choose to sell as-is.

The owner may have passed away, and the heirs want to sell the home quickly, but may have no idea whether there are any problems with the house. A seller may want to sell the house quickly due to a planned move or simply to avoid dealing with any potential defects. The benefit of selling a house as-is is primarily to avoid any expensive repairs that the seller may not have the necessary funds to pay for.

Selling a house as-is generally results in quicker sales because there is no waiting weeks or months for the back-and-forth of the buyer requesting repairs and the time to perform those repairs. When a buyer knows that no repairs will be made, the closing is usually smoother and much less complicated.

The number one "con" of selling a house as-is is the reduced profit from the home. Skipping repairs saves money upfront, but results in lower profits. Sellers may not attract as many potential buyers, as many homebuyers are looking for move-in-ready properties. There may also be financing challenges for buyers who are unable to secure a loan when the appraisal comes in short of the agreed-upon price.

Pros and Cons of Buying an As-Is Home

As-is homes are typically priced to sell at a bargain price. For buyers who are handy DIYers, the work required may not be a deterrent.  Paying less upfront can also result in a larger profit when the home is resold. Other benefits of buying an as-is home include:

• The transaction is faster, with no back-and-forth negotiations.
• There is less competition from other buyers, resulting in fewer bidding wars.
• The buyer has more money for remodeling.

There are also negative aspects to buying a home as-is. Primarily, there may be bigger problems than are apparent, meaning it will take more work and money than anticipated to renovate the house.

Financing can be more challenging than for an as-is home, and for those expecting to obtain an FHA or VA loan, certain repairs may need to be completed before closing. Sellers who list their homes as-is tend to be more inflexible and less open to contract negotiations or counter-offers.

Contact a DuPage County, IL Real Estate Attorney

In most cases, unless the home is a rental or an inheritance, the seller still has a legal obligation to disclose anything they know to be wrong with the house, so for the buyer, a home inspection remains a good idea. When you have a Wheaton, IL real estate lawyer from NN Legal Group assisting you with your real estate transaction, there will be no worries about legal issues. To schedule your free consultation, call 630-474-0925. Hablamos Espanol.