Raveis Real Estate - Official Brokers to the Red Sox


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Yard Sale Do's and Don'ts

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What does "As Is" Mean in Real Estate

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The real estate industry has its own unique language that can sometimes be confusing. One term that comes up a lot, especially in these times of bank-owned properties, short sales, and foreclosures, is “as is” and its variations “where is”, and “in its present condition”. There are some agents who feel that part of the reason we see "as is" cropping up more and more is because more buyers are being coached to use the home inspection as a reason to reopen negotiations (sometimes justified, sometimes not) and that sellers and their agents, who may have already lowered the price several times, are using it as a tactic to close the door on this practice. Sellers commonly mistake “As is” as a way to offset deferred repairs with a discounted asking price usually reflecting the condition. This is not a term to be used lightly, because there are costs as well as benefits, and if you don’t know what it really means, you shouldn’t use it. “ As is” is actually a leg...
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