Buying or Selling a Home/as-is condition

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Question
Hello.  First of all thank you for your time.
Here's my question- My husband and I are going to try to sell our house to my sister in as-is condition, because we don't want to put too much money into the place and she's fine with it the way it is.  I was wondering if banks will give her a loan for the house if it's not up to code?  We;re selling pretty cheap so I don't know if that matters, $55, 000.   Thanks again :)

Answer
Nina,
If your sister is obtaining a loan to purchase the home, the condition of the home could be an obstacle to the appraisal process.  It tends to be a flip of the coin depending on which appraiser completes the appraisal and what type of "not up to code" issues there are in the home.  For example, items considered "safety" issues are more likely to cause problems then remodeling of a kitchen counter top without permit.  Either way, it may be best to speak with a local appraiser or a local real estate agent to see what their opinion would be on how serious the items are related to AS IS.  Good luck!

Buying or Selling a Home

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CJ Brasiel, Broker Owner

Expertise

I can provide information on the buying and selling of residential homes. I know the greater San Jose area well and specialize in local markets like Willow Glen, Blossom Hill, Santa Teresa, Rose Garden, Campbell, Los Gatos, Saratoga, and downtown San Jose. I provide information to help buyers and sellers make the best decision. I believe in "concierge" style real estate and it is my passion to build my business one client at a time for a life time of trusted relationships. I do not handle commercial real estate.

Experience

I have bought and sold four homes in the San Jose area. I have been in the real estate business over 10 years and a broker for the last 3 years. I am the Broker Owner of Veridian Realty Group; a boutique brokerage based in Silicon Valley.

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NAR CAR SCCAOR WCR

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www.TalkToCJ.com

Education/Credentials
Bachelors Business Management Broker Associate Certified Distressed Property Expert Certified Senior Real Estate Agent Certified Green Real Estate Agent Certified Real Estate Negotiator

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I do not publish my clients names without permission.

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