AS IS??? - Posted by Lenny AusTX


#1

Posted by Bud Branstetter on October 12, 1998 at 11:16:34:

I have had them sign a buyers affidavit at closing. They accept the property as is knowing that it may not meet code or be habitable with out repair and or permits.


#2

AS IS??? - Posted by Lenny AusTX

Posted by Lenny AusTX on October 12, 1998 at 08:10:08:

I am flipping a real junker (maybe even bulldozer material) and I would like to know what I can do to protect myself from “buyers remorse”.

1000 sf 3/1 on 1 acre, central h&a, needs loooooooots of work. Sales price 14k. AS IS.

Should there be special wording in the purchase agreement, maybe a separate addendum (CYA type) ???

Buyers dad is a lawyer.


#3

Re: AS IS??? - Posted by Bob-Tx

Posted by Bob-Tx on October 12, 1998 at 09:09:04:

I use the Texas Real Estate Commission (TREC) contract.
Par. 7 - property condition, Item D - acceptance of property
condition, #2 - buyer accepts property in its present condition…
etc.
If you are using something other - just use special provisions area
to write in - "buyer accepts property in its present condition with no
acceptions."
Bob


#4

CYA language enclosed . . . - Posted by Bronchick

Posted by Bronchick on October 12, 1998 at 16:22:59:

“The buyer has inspected the property and is aware that the building does not (or may not) conform to local state and/or federal building, housing, environmental, electrical, health, safety, fire or other codes, statutes, ordinances or laws. Buyer takes the property in its present “as is” condition, without any warranties, express, implied or for any particular purpose.”