What happens in an as-is sale if major issues come up in the home inspection?
If you are under contract to purchase a foreclosure or any other as-is property then you do inspections and major repairs are needed then you have a few options. You can back out of the contract. (In most cases you would get your deposit back except if you are an investor buying a HUD property.) Or you could try to renegotiate. We would provide copies of the inspection report to the listing agent and have them ask the seller if they would reduce the purchase price by a certain amount to cover the repairs. We would provide an estimate to help support the request in most cases. They would either accept, counter, or reject. If we can't come to terms then we could back out of the contract and get your deposit back. I help you through the entire process.