Newsgroups: misc.invest.real-estate alt.org.natl-assn-mortgage-brokers alt.real-estate-agents
Subject: Re: Selling AS IS vs. Not
From: bairdspalding@yahoo.com
Date: Thu, 23 Oct 2003 14:12:31 GMT


On 23-Oct-2003, "Jeremy Thurber"  wrote:

> Anyone can sell any house "as is".... when you put an as is clause into a
> contract all your doing is stating up front the your not paying for any
> further reapairs....the purchaser can still ask for money for repairs and
> can still back out if the request isn't met.
> It's really just a waste of ink.

It's useful in that either party can walk if the repair costs get too high.
And it removes the parameters for negotiation as well as obligation. If the
seller really want's to make sure the buyer is obligated he shouldn't sell
as-is, but he will be obligated to shell out 2-4% (or whatever the contract
says) for repairs if the Inspector finds any problems. In return the buyer
will be obligated to buy the property if the seller compensates for the
repairs. Ironically as-is agreements are more beneficial to the buyer than
the seller.