Before anyone considers buying a fixer-upper you must understand what it is you are looking for. Your idea of a fixer upper may be a stately old home in need of new paint, flooring, and pretty landscaping. Reality says more likely than not it needs a new roof, wiring, air conditioner, widows, drain field, appliances, plaster patched, paint, flooring and some major landscaping.

Do you have the resources to repair all those items? 

If it is to be used as an investment can you afford to pay the mortgage and not have income for the 6 to 26 months it may take to repair? Remembering that as you begin to repair and replace there is always the possibility of the domino effect. By removing something to be repaired you discover that something else is rotten or warped and this can continue on and on until you have no bank account left. 

Remember. If you only have 80,000 and that’s what it took to purchase your handyman’s dream you will be the proud owner of a handyman’s dream that still needs a handyman and someone with plenty of cash for supplies. 

Think all your construction oriented friends and relatives will enjoy nothing more than spending all their free time and holidays sweating and getting bruised just for you? Buy the house and watch them disappear! Many will be insulted if you even THINK about borrowing their pick up truck. 

As-Is can be another term that baffles customers. Without any ifs and or buts it means you are buying what you see and what you don’t see. You are buying what you like and what you don’t like. Just as it stands with the only exception, maybe, being termite repair. 

While you do have a right to inspections (within a short time period) it is only for you to find out what exactly needs some repair. Do not expect the seller to fix a thing. You do however, have the right to refuse the home if repairs are beyond what you can handle and only within the time limit stated on the contract. If the contract does not state that the 55 rusty lawnmowers sprinkled throughout the property be removed before closing you get to deal with that also.

As IS does not always mean there is anything at all wrong with a home. It
Could be the seller just doesn’t care to fix a thing or want to jump through hoops for you. Often the seller finds it difficult to believe that you could possibly find anything wrong with their lovely home, which they have been perfectly content with.