"As-Is" listing negotiations

[Kimberly Weatherford]

Hello!

We're trying to purchase our second rental property. It is two homes on one piece of land and sold "as-is", which we understood to mean the seller would make no repairs. It appeared to be in good condition but we still put an inspection contingency in the contract. The inspection came back with major issues, many things not up to code and repairs probably in the $15-$20K range to bring it up to code. Our offer was $125K so the numbers didn't work anymore. We wanted to negotiate a reduced sale price but our realtor insisted that with an "as-is" sale, you can't negotiate at all, our only options were to proceed at the original price or cancel our contract. Is this typical of "as-is" listings?