Make Lemonade out of Lemons When Searching for a Chicago Home
Reviewing aggressively priced, foreclosure, and short sale listings with my client, it became apparent that she was avoiding certain listings that I felt had potential. Delving a bit deeper she explained…
This property says “As Is” in the description. I don’t want to be stuck with a lemon.
To that I explained that “As Is” in our market does not mean that if an offer on a property is submited and accepted, the purchaser has waived their attorney review and inspection contingencies (A/I). It simply means that the seller (or the bank) are not willing or able to address any inspection issues that arise with the property. All standard contingencies remain in play.
With that, our home search possibilities opened up significantly. We will undoubtedly look at a number of lemons over the coming months but have no chance of being stuck with one. In fact, we may even be able to make lemonade.
