Q & A: Buyer Beware When Purchasing a Home

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I am selling my mother's condo in Florida as she has passed away. I listed it as "as is" and we received an offer and accepted it. After the inspectors report there are a few things that need to be repaired/replaced. If I said "as is" are we still responsible for these repairs? Can we just take money off the purchase price and let the buyer handle it when they close?

"As is" condition is just that. The unit is to be delivered in the same condition it was in when the buyer signed the contract. It is always recommended that you consult with your attorney, as the terms and conditions of the contract of sale are what control the deal.
 
I just went to contract on a new home on Long Island. After we closed there are a number of issues that supposedly didn't exist. Do I have any recourse with the broker or inspector or attorney? For example, it said heated pool, and the pool is not heated. They said they replaced something with the AC and after two weeks it broke again. I just feel like this house is going to cause constant issues.

Caveat Emptor! (Buyer Beware). There are several steps that should be taken prior to closing, including having the home inspected by an engineer to ascertain that the house is structurally fit and that all the features such as the AC are working. If the AC was fixed, did the seller produce a warranty or evidence of work done? In addition, if the seller or their broker represented that the pool was heated, you should consult with your attorney about possible recourse and remedies.
 
I am trying to purchase a home in New Jersey. I really don't feel like there is a lot of inventory on the market right now. Is inventory down or is it because school has just started so people are already settled for the year and I should resume looking in March/April? When do most people put their homes on the market?

With current favorable market conditions, real estate has no real season. Inventory levels are for the most part very low and properties priced correctly, sell quickly. Not all buyers have schools as their primary parameter and it is probably best for sellers to list their homes now. It is always helpful to consult with a real estate professional who has an expertise in your neighborhood.
 
I want to sell my home. The kitchen and bathrooms need updating and I think it would show better with some updates. We don't have enough money to do all of the work so would you suggest doing one over the other. Kitchen or two bathrooms?

Homes with renovated kitchens and bathrooms do have more curb appeal. Whether you do the kitchen or bathrooms, your home will still need work. It might be best to give the purchaser an allowance toward renovation as part of a negotiation, rather than investing in doing a renovation yourself. Fresh paint and good staging can be helpful steps toward prepping your home for sale without too much out-of-pocket-expense. If you elect to go forward with a renovation, places like IKEA and Home Depot have good consultation services and good choices for affordable kitchens and bathrooms. You may be able to do both.


Dottie Herman is CEO of Douglas Elliman. If you have a real estate question for Dottie, please send it to: Reporters@WPCnews.com