The Pros and Cons of Buying a House As-Is

Dusty Rhodes • September 2, 2024

If it’s your first time buying a home, you may expect it to be move-in ready on day one. However, not all homes are at their best when the paperwork is signed. If you’re looking at home listings for properties that are being sold “as-is”, there’s a strong chance that they may need repairs or renovations. 


What Does It Mean When a House is Sold As-Is? 


When a house is sold as-is, it typically means that it is being sold in its current condition. The seller won’t make any improvements, repairs or changes. It’s not uncommon for homes that are sold as-is to need significant renovations or repairs. Frequently, homes that need to be torn down are sold as-is. 


Reasons to Purchase a House As-Is 

  • Low list price: An as-is home is often listed below market value because of its condition. It’s generally safe to assume that the seller and buyer both know that the home will require significant updates or repairs. 
  • Desirable land or location: Some people buy an as-is home for the land it sits on. This type of sale can be particularly interesting to buyers who want to tear down a house and build their dream home in a specific area. 
  • Fast sale: In some cases, a seller may want to get rid of their home quickly. As-is sales typically involve less negotiation between the buyer and the seller, leading to a quicker transaction. 
  • Less competition: Because an as-is home may require significant expenses after purchase, there could be less competition from other buyers who lack the funds to repair, upgrade, tear down or flip an as-is home. 
  • Extra funds to renovate: Since as-is homes often come with a lower price tag, you may have the funds to update and personalize a property to your exact specifications. 
  • Investment opportunities: Real estate investors may seek an as-is sale as an opportunity to renovate and flip a home for profit. There’s a similar appeal for investors who want a rental property, since they can control the cost of updates and repairs. 


Potential Drawbacks of Buying a House As-Is 

  • Renovation expenses: A home sold as-is may require costly repairs. This could include addressing concerns like a leaking roof, mold or structural issues. The home’s plumbing, electrical and HVAC systems could also require repair or replacement. 
  • Possible health hazards: A home that’s in rough condition could have health risks, including pest infestations and the presence of asbestos or lead paint. It’s wise to get the home professionally inspected for these issues prior to purchase and take the necessary precautions when repairs begin. 
  • Hidden expenses: Even with a home inspection, there could be hidden issues. Corroded pipes, rotten wood or foundation issues could lead to a costlier renovation than expected. 
  • Inflexible sellers: Sellers of as-is homes often want to avoid negotiation. They are also less likely to accept an offer that gives the buyer an opportunity to cancel the home sale and recover their earnest money deposit. For example, a contingent offer that requires a successful home inspection may be viewed as unfavorable by the seller. 


Financing a Home that’s Sold As-Is 


There are fewer mortgage options for buyers who want to finance the purchase of an as-is home. This is especially true with Federal Housing Administration (FHA) loans, where the Department of Housing and Urban Development has minimum property requirements that must be met. 


Some conventional loans also require a lender-issued home inspection to secure a mortgage. If the results of such an inspection give the lender pause, repairs will need to be made before the sale can move forward.   


These conditions may be a barrier for many homebuyers. Still, Michael C. Weiner, a real estate agent with Coldwell Banker Warburg, says that securing a home loan on an as-is property is not more difficult if the buyer is in good financial standing and does not overpay. 


“First, a bank has to want to loan a buyer money (thus, strong financials), and then the property needs to be appraised for the purchase price or more for the collateral against the loan,” says Weiner. “Before submitting the offer, a buyer should have a pretty good sense of what the property is worth and what it will cost to make changes – because once the sale is complete, it’s all on the buyer.”


Tips for Buying Real Estate As-Is 


“As-is doesn’t necessarily mean that the property has issues,” says David Harris, a real estate agent with Coldwell Banker Warburg. “It means that the seller isn’t making any upgrades or improvements.” Harris offers the following tips for buyers who want to purchase a home that’s sold as-is.


1. Have a Property Inspection 


You may already be anticipating expensive repairs when you buy a home as-is, but you should still get it inspected. “While it does incur a cost, spending the money brings peace of mind,” says Harris. “Even if you are okay with performing minor upgrades or if you expect to make improvements, having an inspection can help assess the scope of work to be done as well as inform whether or not larger issues are present.”


2. Ask Lots of Questions 


As a buyer, it’s crucial to learn as much as you can about the property. “This is one of the most important financial transactions some will ever make,” says Harris. “Ask when the last time any work was done to the electrical or the roof. Ask if there were ever any leaks or water damage.”


3. See the Property on a Rainy Day 


The effects of a rainshower can tell you a lot about potential issues with the home. Harris notes that, “The best time to see if there are any roof issues or leaks in the basement due to foundation or plumbing issues is to see the property when it’s raining.”


4. Review Financials on Investment Properties


“If it’s an investment property that’s currently being rented, ask to see the rent roll and operating expenses,” says Harris. “Find out if the tenants are paying rent on time.” If the property is vacant, your real estate agent should run comps for similar rentals in the area. Harris advises buyers to “See what types of rental properties are in demand in that particular neighborhood.”


Additional Considerations: Buying a House As-Is


The buyer is generally assuming more risk and less opportunity for negotiation when buying a house as-is. Still, a home inspection and the disclosure regulations in your area should provide a clearer picture of the home that you plan to purchase. In some cases, these findings may provide an opportunity to renegotiate the purchase price. 


Negotiating an As-Is Purchase


When a home is listed “as-is,” the seller is often less likely to negotiate. However, you don’t want to pay more than the home is worth, especially if you had the house inspected and found major problems. An experienced real estate agent can help you navigate the process, and you can always ask the seller to adjust the purchase price if they refuse to make repairs themselves. 


Seller Disclosures Are Almost Always Required 


In most states you will be entitled to a Seller’s Disclosure when you purchase a home. This legal document is also known as a property disclosure, and it requires the seller to provide information about the property to the best of their ability. This includes undisclosed details about the home that may give buyers pause, and it helps protect the seller from potential lawsuits after the sale.


The Seller’s Disclosure is typically part of the closing process. The information that it contains will vary depending on the disclosure laws where house is being sold, but most property disclosures typically include:

  • Appliances that convey with the sale.
  • A checklist of known issues that the seller must confirm, if they exist.
  • Questions that the seller must answer about the property.
  • The opportunity to provide further information about issues specified in the disclosure.
  • The opportunity to disclose information that is not specified in the document. 


Consider a Home Warranty 


A home warranty will not cover preexisting conditions or known issues when you purchase a home, but it may provide some peace of mind if you’re concerned about unexpected repairs. 


In general, buying a home warranty will offer some protection for your home’s fully functional appliances, as well as the plumbing and electrical systems if they are in good working order. 


Assemble the Right Team to Buy a Home As-Is


Purchasing a home that requires extensive renovations is a complex process, and you’ll benefit from the expertise of an experienced real estate agent, attorney and contractor. In some instances, you may also need an architect to help you understand the scope of your project. 


“Your attorney will be able to search for several potential problems, such as open jobs filed with the city for renovations that were not closed, which can be costly,” says Dan Ragone, real estate agent with Coldwell Banker Warburg. “Invite your contractor and architect to visit the property and get estimates on what it would cost to make the property livable for you and consider this cost in the asking price to make sure you’re getting the best deal.” 


In a best-case scenario, Ragone suggests making an all-cash offer or getting a mortgage pre-approval in case there are multiple bids on the property. 


Should You Buy a House That’s Sold As-Is? 


If you have the budget and the vision, an as-is property can be the humble beginnings of your fully renovated dream home. However, it could also be challenging if you’re not prepared for the time and effort that a fixer upper will require. 


Be prepared to ask plenty of questions during the buying process, ensure that you have the budget to renovate, and seek out an experienced real estate agent to help you negotiate the deal.

Source: Homes.com



Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!

Share

How to Move Out After Selling a House

By Dusty Rhodes • October 13, 2025
From the first coat of paint you used to freshen up your house’s trim to the stress of wrangling your way to a deal, you’ve been through a lot in that place. Now you’ve made it to the final hurdle of selling a home: moving out! Don’t worry, this is the easy part… but you want to do it right. Here’s how to get through the last leg of your journey without any bumps along the way. How to move out on time Once the paperwork is signed at closing, the buyers will officially own the house—and you won’t. That means that, technically, if you or your stuff is still there after the close, “the buyer could evict you,” says Joshua Jarvis , founder of Jarvis Team Realty in Duluth, GA. So make sure to have your exit strategy in place! Still, most buyers will understand if you need a bit more time and have a legitimate reason—like if you can’t move until the weekend due to your work schedule. Just be sure to discuss these issues as soon as possible before the close, so your buyers can plan accordingly. Decide what to leave behind To make sure you’re leaving behind everything the buyer wanted—and that you agreed to—double-check the closing documents . There should be an itemized list of what comes with the house . And even if the buyers didn’t formally request them, it’s just good form to leave certain types of things behind. Such as? “Generally speaking, you should leave anything that’s bolted to the wall,” says Jarvis. “Some homeowners want to take their fans and blinds to the next home, but generally if it’s screwed in, it stays.” Also, if you and the buyers agreed to transfer any services—such as alarm monitoring or pest control —be sure to set that up before you go. Leave the buyers a detailed note in the house, or ask your agent to get in touch with theirs to make sure the transfer goes smoothly. If you do inadvertently take an item that the buyers had requested, they have the right to ask for it back—and they could potentially sue you in civil court for the cost of a replacement. So, when in doubt, feel free to check with the buyers before you grab and go. But don’t leave anything else behind Just as important as what you leave behind is what you don’t. Your buyers have a right to move into a home that’s been cleared of furniture and other movable items they didn’t expressly request. “Some folks leave all kinds of unwanted clothes, furniture, paint cans, and other items, thinking they are helping the buyers,” Jarvis says. If you truly think your buyers might love to have your old planting pots or kiddie equipment, go ahead and ask—but please don’t assume they’ll welcome your leftovers. Even if you’re careful, you might forget something—at which point the buyers may contact their agent to get it back to you, but they also have the legal right to just keep or get rid of it. So double-check areas (e.g., the attic, garage, basement, storage shed, kitchen, and bathroom drawers) where people commonly overlook items. Clean up It’s common courtesy to leave the place not only clear of your possessions but also clean. However, that doesn’t mean you have to leave it immaculate. “Generally, you shouldn’t have to pay to have it deep cleaned,” Jarvis says. In most cases, a simple broom-clean will do. That means wiping down the countertops, cleaning out drawers, sweeping or vacuuming all the floors, and giving the bathroom and kitchen appliances a once-over so the new owners aren’t grossed out when they arrive. Are you forgetting anything? Before you close the door for the last time, run through a quick checklist. Did you eyeball every room for stray items? Have you forwarded your mail and turned off the utilities? Is the water running in the jacuzzi? We all get in a bit of a rush even in the best planned moves, but you won’t be able to get back in, so it can’t hurt to do a final run-through before you move out. Once you’re ready, it’s time to leave. You can drop a line to your real estate agent to let them know you’re out, although it’s usually a courtesy more than a necessity. If you’re feeling truly gracious, feel free to leave a note, card, or bottle of bubbly congratulating the people who’ve inherited your former home. Given all the fond memories you’ve built between those walls, wouldn’t it be nice to start the home’s new owners off on the right foot? And buy yourself some Champagne, too. Make it the good stuff—you’ve earned it. 

When Are You Considered a First-Time Homebuyer Again?

By Dusty Rhodes • October 6, 2025
Buying a home is an exciting time, whether this is your first time purchasing a house or you’re a repeat buyer. But if you’ve owned a home before, you may be wondering if you can be a first-time home buyer again. In some cases, yes, you can. In this Redfin article, we’ll go over what qualifications you need to meet and when you can be considered a first-time homebuyer again. Whether you’re buying a home in Atlanta, GA , or a condo in Portland, OR , read on to find out if you’re eligible to be a first-time homebuyer twice. Key takeaways Usually, you’re a first-time homebuyer again if you haven’t owned a home in 3 years. Some special situations may also qualify you as a first-time buyer. Benefits include down payment and closing cost assistance and lower interest rates. When are you considered a first-time homebuyer again? Typically, you’re considered a first-time homebuyer again if you have not owned a primary residence for at least three years. There are several additional reasons you may qualify as a first-time homebuyer again, which we’ll explore below. Some first-time homebuyer programs have different definitions of “first-time homebuyer,” so check with the specific program before proceeding. Qualifications to be considered a first-time homebuyer There are other reasons you may qualify as a first-time homebuyer twice. Let’s take a look at them: You haven’t owned a primary residence for 3 years: This means if you owned a home, but sold it and rented for 3 (or more) years, you can be considered a first-time home buyer again. If you’re buying with another person, only one of you needs to meet the criteria to use most first-time home buyer programs. You’re a single-parent buying on your own: If you’ve never purchased a home by yourself and are a divorced single-parent, you may qualify again. Even if you purchased a home with your former spouse, you likely still meet the criteria. You’re a displaced homemaker/family caregiver: If you are a displaced homemaker who doesn’t or didn’t earn wages from employment and has only owned a home with a former spouse, you’re likely considered a first-time homebuyer. You previously owned a mobile home: If you owned a mobile home or property not affixed to a foundation, then you likely qualify. Your previous home was out of compliance: If your home had building code violations or safety issues that could not be repaired or brought into compliance for less than the home’s value, you’re likely eligible. Benefits of being a first-time homebuyer again There are benefits to being a first-time homebuyer twice. Let’s take a look at them: Access to first-time homebuyer programs: One of the biggest benefits is the ability to use first-time homebuyer programs such as down payment and closing cost assistance , grants, credits, or loans. Every program has different qualifications, so make sure to research each program or speak with your agent and lender to explore options. Options for low down payment mortgages: There are several loans available for first-time buyers that offer lower down payment amounts. For example, Freddie Mac’s Home Possible and Fannie Mae’s Home Ready offer down payment amounts as low as 3%. Potentially lower mortgage rates: Sometimes, lenders will offer slightly lower mortgage rates to first-time borrowers to help them buy their first home. FAQs about first-time homebuyers Can I be a first-time homebuyer again if I previously owned a home? Yes, as long as you haven’t owned a primary residence in the last 3 years, or you owned a home while previously married. Do both homebuyers need to be first-time homebuyers to qualify? No, in most cases, as long as one homebuyer meets the qualifying criteria, then you’re considered a first-time homebuyer. However, some programs require both homebuyers to be first-timers. Can I qualify for a first-time homebuyer loan again? Yes, for the most part, if you qualify as a “first-time homebuyer,” you can get another first-time homebuyer loan. Every lender and loan is different, so be sure to read the eligibility criteria thoroughly. Are there income limits for programs? Yes, many first-time homebuyer programs have income limits. This means you won’t qualify if you make more than the specified annual amount.

10 Home Renovation Projects Under $1,000 That Add Lasting Value

By Dusty Rhodes • September 29, 2025
Enhancing your living space doesn’t always require a hefty budget. With the right updates, you can add real value to your home for under $1,000. Whether you’re preparing to sell your home in Grand Rapids, MI , or looking for some easy DIY projects for your house in Portland, OR , these cost-effective upgrades can breathe new life into your space. To dig deeper into this topic, we spoke with Kevin Brasler, executive editor at nonprofit Consumers’ Checkbook , a consumer advocacy group that helps homeowners save money and make smart choices. With decades of experience evaluating service providers, Kevin shares insights on how to budget wisely, avoid common renovation mistakes, and know when to hire a professional versus taking the DIY route. 1. Add fresh paint to the walls of your home Painting is one of the most affordable ways to refresh your home. A gallon of quality paint costs $30 to $50, with a full room averaging around $350 . Neutral shades like gray, beige, or white appeal to most buyers, while accent colors such as navy, forest green, or mustard add personality. For a calming vibe, try sage or powder blue. Brasler notes that painting is one of the best DIY-friendly projects homeowners can take on. “Good DIY projects are those that involve mostly labor: painting, basic tile work, installing fixtures that don’t require new wiring or plumbing, landscaping, and most flooring jobs,” he says. 2. Update your cabinet hardware A cabinet hardware update is a subtle yet effective strategy to elevate your home’s functionality and aesthetic appeal. Swapping outdated or generic cabinet handles and knobs for modern, stylish alternatives instantly transforms kitchens and bathrooms. Consider sleek brushed nickel handles for a contemporary touch, or opt for vintage-inspired brass knobs for a timeless charm. This modest investment typically costs between $2 to $10 per piece. 3. Change the kitchen backsplash A new backsplash can quickly refresh your kitchen while protecting your walls. A custom kitchen backsplash protects your walls from daily wear and creates a focal point that elevates the entire room. Opt for affordable ceramic or glass tiles, which can be found for as low as $1 to $5 per square foot. Staying within a $1,000 budget for a standard-sized kitchen is doable with those materials. Or you can go for a peel-and-stick backsplash that is not only budget-friendly, but a quick solution to make your kitchen stand out. Brasler stresses that getting multiple estimates is critical for even small-scale projects like this. “The biggest mistake homeowners make is not getting multiple bids. Even for smaller projects, you should get at least three written estimates; five is better,” he explains. 4. Switch to energy-efficient lighting By making the switch to energy-efficient lighting, you’ll not only improve the sustainability of your home but also create a more comfortable and inviting living environment. Switching to LED bulbs, which typically cost between $2 to $10 each, saves energy and reduces utility bills over time. Beyond the financial benefits, the crisp and vibrant illumination of energy-efficient lighting can effortlessly enhance your home’s overall mood and appeal. 5. Create a beautiful landscape A simple landscaping update is another low-cost project that adds value. Try planting vibrant flowers, shrubs, and trees, which can cost anywhere from $100 to $500, depending on the size and variety. Add mulch or decorative stones to create a polished look for approximately $50 to $150, while adding affordable outdoor lighting options typically range from $50 to $200. Low-maintenance features lower costs down while still making a strong impression. For most landscaping updates, DIY is both practical and cost-effective. Still, Brasler advises calling in professionals for anything involving gas, high-voltage electrical, or structural work. 6. Install a smart thermostat A smart thermostat, such as popular models like Nest or Ecobee, typically costs between $150 to $300, depending on the brand and features. Homeowners can often handle the installation themselves, avoiding additional labor costs. Once installed, these intelligent devices learn your preferences, allowing for automated temperature adjustments, and can be controlled remotely via smartphone apps. 7. Refurbish or paint the front door Refresh your curb appeal by refurbishing or painting the front door – a low-cost project with instant impact. Sanding and restaining often costs under $100 and requires just a few materials. Another choice is to use high-quality exterior paint, which typically ranges from $30 to $50 per gallon, providing a fresh, vibrant color that suits your home’s style. 8. Add floating shelves or built-ins Consider adding floating shelves or built-in storage solutions to maximize space and keep your home organized. Floating shelves, available for as little as $20 to $50 per shelf, provide an affordable and stylish way to showcase decor or organize essentials. For a more customized approach, DIY built-ins can be crafted using plywood or ready-to-assemble shelving units, typically ranging from $100 to $300. 9. Upgrade your kitchen sink and faucet Breathe new life into your kitchen with a sink and faucet upgrade. Faucets usually run $100 to $300, and sinks $200 to $500. Consider a sleek pull-down faucet and a resilient stainless steel or granite composite sink to improve both function and style. Spending $300 to $800 on a sink and faucet upgrade can instantly refresh your kitchen’s look and make daily tasks easier. 10. Add safety measures to protect your home Smart security cameras or a basic surveillance system now offer affordable and effective protection. Investing in a home surveillance system, typically from $200 to $500, allows real-time monitoring and deterrence against potential threats. The addition of smart cameras, with features like motion detection and remote access via smartphone apps, can improve your home’s overall safety and convenience. With a budget-conscious investment of $500 to $1,000, you can create a comprehensive security network covering critical areas of your property. Tips for finding good contractors Even for smaller projects, working with contractors requires careful planning. Brasler emphasizes the value of comparison shopping. “Get proposals and detailed pricing from at least three reputable, licensed contractors,” he advises. “The only way to ensure you’re paying a fair price is to initiate competition.” He also suggests: Check references thoroughly. Ask questions like: Did the company follow plans? Did it finish on time? Was the work professional? Did the contractor offer low-cost solutions and stick to agreed prices? Were problems handled promptly and effectively? Did the team communicate clearly throughout the project? Was disruption to your daily life kept to a minimum? Did the finished results meet your expectations for quality and appearance? Was the contractor flexible and fair about changes if you adjusted plans? Ask neighbors and friends for referrals. Word-of-mouth often uncovers the best local contractors. Look for complaints. Check ratings at Checkbook.org or your local Better Business Bureau and be cautious with online reviews as they can’t always be trusted. Common mistakes when budgeting for small renovations Brasler states the biggest budgeting mistake is skipping multiple bids. “A contractor charging $800 might be using premium materials while the $500 bid uses builder-grade stuff. Try to get prices from each business for the exact same work,” he explains. He also reminds homeowners not to assume that a low price means low quality. “For decades we have evaluated all kinds of businesses and often find some of the best companies have the lowest prices,” he says. When to DIY vs. hire a pro While DIY saves money, Brasler stresses knowing your limits. “Call in pros to deal with anything involving gas, high-voltage electrical, or structural changes. Ditto for work that requires a permit and inspection,” he advises. For tasks like painting, basic landscaping, or adding shelves, homeowners can usually manage on their own. Keep expectations realistic since DIY projects often take longer and may not match professional results. The bottom line Budget-friendly renovations under $1,000 can make a big difference in your home’s look, comfort, and value. From painting and landscaping to updating fixtures and adding smart technology, these projects prove you don’t need to overspend to refresh your space. As Brasler reminds homeowners, “the key is balancing creativity with caution.” By comparing bids, avoiding common budgeting mistakes, and knowing when to call in the pros, you can achieve lasting results without stretching your wallet.