As to it being a sensible choice, it depends on how you go about the deal. If you have found an “as is” property that you like and it’s the right price, it can be a great option. But, before you sign on the dotted line, there are some things you should do first.
Make sure you have the property inspected by a certified home inspector. Yes, you are buying the property in as it comes, but you don’t have to simply hope you got a good deal. Having the home inspection done could end up saving you a fortune in the end by giving you an idea of the true condition of the home.
A written disclosure from the seller, informing you about the condition of the property is, in some States required by law. Does that mean that you can forego the home inspection in this case? The written disclosure is not always as honest as it should be and sometimes important information about the condition of the place is left out. The home inspection will let you know whether you can trust the seller or not, by showing if vital information has been omitted. If this ends up being the case, you may want to walk away from the sale.
So, as we can see, buying a property “as is” can be a sensible choice as long as you act with caution and do what you can to find out its true condition.