this article is intended to provide basic explanations as to the legal significance of the “as is” provision contained in any residential or commercial real property purchase and sale agreement. this article is not intended to substitute for the advice of any attorney as to a specific problem or transaction. in california, a seller of real property, be it commercial or residential, has a common law duty to disclose all known “material facts” that are not known or visually observable by the buyer.
however, while an “as-is” provision may be effective to disclaim any express or implied warranty regarding the condition of the property, it does not does not limit or relieve the seller of any of seller’s disclosure obligations a seller cannot eliminate his or her common law duty to disclose all known material facts concerning their property that are not known or visually observable by the buyer. depending on its language, an “as-is” provision typically puts the buyer on notice that the seller is making no representation or warranties concerning the quality or condition of the seller’s property. the foregoing article is intended only to provide an overview of some of the “as is” provision in a real property purchase and sale agreement. the article is not intended to contain legal advice, is not intended to discuss or address any specific situation or problem and should not be relied on in making any legal decisions.
if you buy an “as-is” home and later find major problems, you’re responsible for the repairs. the home needs to be safe for you and your family to occupy at the time of purchase, and it needs to be structurally sound. if you want to buy an “as-is” home, you’ll definitely want to get a home inspection. this gives you a good idea of what you’ll need to fix and how much it’ll cost if you decide to buy the home.
if you’re buying a home built before 1978, the seller needs to tell you if the home has ever had lead paint. a licensed real estate agent can be an invaluable asset when you want to buy an “as-is” home. if you buy an “as-is” home that doesn’t need a complete overhaul, you can protect the working appliances in the home with a home warranty policy. take plenty of time to schedule expert inspections and understand the real condition of the home before you decide to buy. apple and the apple logo are trademarks of apple inc. registered in the u.s. and other countries.
property sold “as is”. all parties agree that property is sold “as is”, with all faults including but not limited to damage from termites and other wood an “as is” clause in a purchase and sale agreement does not necessarily insulate the seller from the common law duty to disclose defects or the requirements of an “as is” clause in a real estate purchase contract offers some protection but doesn’t exempt a seller from disclosing property defects., as is real estate contract pdf, as is purchase agreement template, as is purchase agreement template, buyer accepts property as is, sample as is” clause in real estate contract.
with an as is sales contract, the buyer is basically reserving the option to purchase a piece of property if they’re happy with the results of the inspection. a property sale agreement is an agreement to sell property at a future date (closing date) under certain terms. this document will define the obligations of an “as-is” provision is a (commonly misunderstood) provision in a real estate sales contract providing that the buyer of the property takes the property in, property sale agreement pdf, property sale agreement sample.
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