Wednesday, October 07, 2009

Buying “AS-IS”...the Real Story

There are many misconceptions about what an “as-is” contract. It does NOT mean than you have to buy a property “as-it-is” with all its problems.

You still have the right to do inspections….for anything that you wish, as long as you do not destroy the property.

After inspections you have the right to say:
a.) OK, I will take the property as it is.
b.) No thank you, I do not want it.
c.) Maybe, if you lower the price or fix the problem.

Buyers have the right to re-negotiate the contract after inspections. If the seller agrees to fix certain things, then the contract is no longer “as is” because the seller now made an agreement to repair, which they are obligated to do.

On the other hand, if your contract is written to protect you and the property has deficiencies that you cannot accept, you can just walk away and get your deposited monies back.

You as a homebuyer have many rights, the problem is that you probably do not know what they are…we know your rights and will be glad to tell you.

Just ask me,
Eve