Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
4. Sold “As-Is”. A property being sold “As-Is” is being sold
with all defects and issues with the seller making no repairs.
“As-Is,” however, does not void the seller’s responsibility to
disclose known defects, problems, and issues with the property. While a buyer may be willing to purchase a property in its current condition, the buyer still has a right to know what they are purchasing.
4. Sold “As-Is”. A property being sold “As-Is” is being sold
with all defects and issues with the seller making no repairs.
“As-Is,” however, does not void the seller’s responsibility to
disclose known defects, problems, and issues with the property. While a buyer may be willing to purchase a property in its current condition, the buyer still has a right to know what they are purchasing.
I agree with both statements you mentioned. I agree that the seller still has an obligation to reveal all known defects, problems and issues with the property even if the home is sold As Is. I didn't say otherwise.
Last edited by dontaskwhy; 10-11-2021 at 10:39 AM..
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,550 posts, read 81,103,317 times
Reputation: 57750
Houses here in the $800k-1 million range are almost all selling with cash offers over asking and no inspections, that's become normal. It's just a matter of supply (none) and demand (high). The advantage to the buyer is that they can buy a house. Those needing a loan or concerned with repair costs are going to have to look elsewhere. Our neighbors across the street and next door that bought in the last year both spent at least another $50-100k doing renovations inside and out.
4. Sold “As-Is”. A property being sold “As-Is” is being sold
with all defects and issues with the seller making no repairs.
“As-Is,” however, does not void the seller’s responsibility to
disclose known defects, problems, and issues with the property. While a buyer may be willing to purchase a property in its current condition, the buyer still has a right to know what they are purchasing.
Seller has an obligation to Disclose. Buyer has an obligation (due diligence) to inspect.
The Inspection is the main thing to show a Buyer what they are buying.
4. Sold “As-Is”. A property being sold “As-Is” is being sold
with all defects and issues with the seller making no repairs.
“As-Is,” however, does not void the seller’s responsibility to
disclose known defects, problems, and issues with the property. While a buyer may be willing to purchase a property in its current condition, the buyer still has a right to know what they are purchasing.
Here in tx, many as is homes are estate sales. There is no requirement for sellers disclosure forms for estate sales or Foreclosures. So not all homes will have defects disclosed.
We did try another area, way out in rural areas but plenty of neighbors so it was not isolated. A further look shows it owned by Nationstar Mortgage and the previous owner was Sec. of Veterans Affairs. The tax billing address is in Texas. I am not seeing how long it was owned by Sec. of Veteran Affairs.
VA foreclosures are sold on warranty deed. They do not pay for title policy, but you can.
Not in my state of Florida. Just means that they will not pay to fix any defects if found. With most real estate contracts you do have the right to conduct an inspection and make a lower bid or withdraw your offer if you feel it is necessary following the inspection. This is common in most real estate contracts.
Tx does not require a sellers disclosure form on foreclosures.
If someone received property from an estate and is now selling
it in their individual name, the seller must do the disclosure even if they never lived in the property.
Not living in the property does not eliminate the duty to complete the disclosure.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
