"Offered for sale on an "As is where is" basis ???

[Bluekiwi]

What does this mean ?

[ChundaMars]

Depends

Where did you see that term advertised?

Generally speaking, it means that whatever is being sold is offered entirely at the new purchasers risk, and that they should do their own homework on it i.e. the current owner offers no guarantee that the item in question is in 100% working order etc.

If you saw it advertised on a property, that would be quite interesting - don't think I've seen that before!

[Bluekiwi]

Yes...

I have seen it with regard to mortgagee sales and propeties without CC.

So I am guessing there are "Problems"

[alhoon]

Thats not that house in Kohi is it?

Allan

[Bluekiwi]

Na its on the shore

[ChundaMars]

I have seen it with regard to mortgagee sales and propeties without CC.

So I am guessing there are "Problems"

Not necessarily Bluekiwi - the house may actually be fine. If it's a mortgagee auction, it's just that the bank won't guarantee it's fine - after all, they've never lived there, they don't know if it leaks, they don't know if there's insulation in the ceiling etc. etc. So they'll say it's bought on an "as-is, where-is" basis to make this clear to the purchaser.

Note also that they will amend or remove several of the standard clauses from the S&P Agreement to reflect this - specifically the ones that deal with vendor warranties etc.

[Bluekiwi]

Not necessarily Bluekiwi - the house may actually be fine. If it's a mortgagee auction, it's just that the bank won't guarantee it's fine - after all, they've never lived there, they don't know if it leaks, they don't know if there's insulation in the ceiling etc. etc. So they'll say it's bought on an "as-is, where-is" basis to make this clear to the purchaser.

Note also that they will amend or remove several of the standard clauses from the S&P Agreement to reflect this - specifically the ones that deal with vendor warranties etc.

Yep, but THIS house is just a normal for sale by owner.

[Heg]

It's my guess that there is a 'missing' consent for something. The property file will tell you. You can order them online for around $25 and they email you (usually the same day) with a link to download it. You don't even have to leave the house.
Cheaper option -ask the owner

[ChundaMars]

Ah, well in that case... there probably are some things wrong with the house, and the vendor is making that clear from day 0.

Note that, saying "as-is, where-is" does not mean the vendor can deceive you. If you ask "Are there rotten window frames?" and they say no, and they turn out to be rotten, then they've deceived you and breached the terms of the S&P.

If anything, when they say "as-is, where-is", they're being more honest than most, in reminding you to do your own homework on the property before purchasing!

[Heg]

Ah, well in that case... there probably is some things wrong with the house, and the vendor is making that clear from day 0.

Note that, saying "as-is, where-is" does not mean the vendor can deceive you. If you ask "Are there rotten window frames?" and they say no, and they turn out to be rotten, then they've deceived you and breached the terms of the S&P.

If anything, when they say "as-is, where-is", they're being more honest than most, in reminding you to do your own homework on the property before purchasing!

"As is where is" may just mean that it needs a complete reno but ChundaMars is correct re what the vendor has to tell you. If the vendor has any sense he will tell you to get your own building report done and check the file.

[ChundaMars]

"As is where is" may just mean that it needs a complete reno but ChundaMars is correct re what the vendor has to tell you. If the vendor has any sense he will tell you to get your own building report done and check the file.

Or better yet, when you say you intend to get a building report done, he should disclose anything he knows about that will show up in the building report. Will save you money, both of you time, and him a wasted contract.

Then again, there are plenty of people out there who still don't believe honesty is the best policy in these things, so I'd go ahead and do the report anyway just to be sure!

Oh, and just to be clear - vendors will get away with it if they can, so you should always ask the "Is there anything about the property that I should be aware of?" question.

[Davo36]

BK , why don't you just ask the vendor what it means? i.e. why they have put that in their ad.

And yes, as ChundaMars says, ask them if anything is wrong with the place.

David

[Bluekiwi]

THis is what the agent says

"Structurally appears quite sound and watertight, however the place is due for a make over in the bath room and toilet (original 1960 version) Ensuite appears OK 1970's.
The kitchen is only about 20yrs old but needs attention e.g.. only a 2 ring hob, no range hood, dishwasher and waste disposal no-go, burglar alarm an unknown, garage door perhaps needs attention, light fittings in places broken etc etc. I doubt if the spa pool gate complies - opens wrong way and no auto closer.
Nothing major but lots of things need replacement/upgrading."

So I assume that legally it means a few crossed out portions of the S&P.

[k1w1]

I understand the "as is" part, but "where is"???

Do you have a choice?

"Actually I'd like the house moved 2 feet to the left, if you don't mind, or better yet, if you'd shift it onto a clifftop section in Mairangi Bay, consider it SOLD!".

[ChundaMars]

I understand the "as is" part, but "where is"???

Do you have a choice?

"Actually I'd like the house moved 2 feet to the left, if you don't mind, or better yet, if you'd shift it onto a clifftop section in Mairangi Bay, consider it SOLD!".

Good point! Like many colloquilisms (spelling?), it would be interesting to know where the actual term originated... obviously, the "where-is" bit is self-explanatory when it comes to houses!

Bluekiwi, it sounds like everything is nice and open and they're making you fully aware of everything they know about - so are you going to have a crack at the house?