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Old 11-04-2012, 05:51 PM
 
Location: Salem, OR
13,541 posts, read 30,449,276 times
Reputation: 11506

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Quote:
Originally Posted by accufitgolf View Post
The bottom line is the buyer is uncomfortable with the As Is and the agent broke it out real fast. Sorry but something smells a little fishy to me.

Could it have to do with all the buyers believing they are in the drivers seat and backing out of deals at the last moment if they even see a cracked window?
I doubt it. Some agents are better at explaining things to clients and some are horrible at it. I think that is the situation here.

Quote:
Originally Posted by accufitgolf View Post
I am uncomfortable and being assured all is OK, sorry folks but it is my money and it time for my attorney to make me feel comfortable.

Am I wrong?
Not at all.
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Old 11-04-2012, 05:56 PM
 
Location: DFW - Coppell / Las Colinas
28,083 posts, read 32,681,601 times
Reputation: 33199
Quote:
Originally Posted by Silverfall View Post
I doubt it. Some agents are better at explaining things to clients and some are horrible at it. I think that is the situation here.
Agreed and buyers are like married men. Many have "Selective Hearing" which is why we must be very diligent in how we phrase statements or what we say.

What I say is not what you hear.
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Old 11-04-2012, 06:04 PM
 
Location: Lexington, SC
4,281 posts, read 9,926,623 times
Reputation: 3695
Quote:
Originally Posted by Zyngawf View Post
I don't know what you mean when you say they broke out the addendum really fast. It is the agents job to present it as soon as possible. Nothing about that seems suspicious to me. I do agree with who ever said that the "as is" requirement should have been in the MLS so not to waste someones time if they aren't interested, but that is on the listing agent to do it not the buyers agent.

I'm not clear about one thing. Did the buyers agent know it was as it before writing the offer? If so, I feel they have an obligation to disclose that beforehand.

You aren't wrong about choosing to call an attorney, that is really the point. It is a choice the buyer makes and an option they have when they feel it necessary. That goes for everything actually. You can call a lawyer about anything you want to anytime you want to. They are always glad to take your money.

ZY

Understand that my belief is the that only difference between your scumbag lawyer and my scumbag lawyer, is one of them is mine.

I also think many real estate people try and play lawyer and quite often cross the line...to not a real scumbag lawyer....just to a pretend scumbag lawyer......LOL
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Old 11-04-2012, 06:37 PM
 
3,404 posts, read 3,989,145 times
Reputation: 2385
Quote:
Originally Posted by Silverfall View Post
This is such a sad statement and such a horrible reflection on the real estate industry. You and I disagree on many things but I never make such asinine statements about what you say online. Time for ignore.
It's for the best. Maybe I should put you on ignore because I don't like to listen to uppity.
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Old 11-04-2012, 06:56 PM
 
12,978 posts, read 11,598,103 times
Reputation: 5390
Quote:
Originally Posted by accufitgolf View Post
ZY

Understand that my belief is the that only difference between your scumbag lawyer and my scumbag lawyer, is one of them is mine.

I also think many real estate people try and play lawyer and quite often cross the line...to not a real scumbag lawyer....just to a pretend scumbag lawyer......LOL
There is no crossing the line. By eastern standards western RE agents practice law. Don't let anyone kid you. We evade the question by redefining RE agency as not being lawyering...but by the eastern standard it clearly is.

Nothing wrong with that actually as long as the RE Agents stick to the tried and true and don't try and get too clever. Kind of like most routine lawyering is done by paralegals. Writing a contract clause in a routine manner is simple particularly if you pick up language that has been used before...the standard way it is done.
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Old 11-05-2012, 08:10 AM
 
Location: Denver & Boulder regions
166 posts, read 277,322 times
Reputation: 183
Quote:
Originally Posted by Minier View Post
...
I think you have a valid concern relating to the examples and in context as you describe. It is important to read the contracts and get a full comprehension a) how they operate b) what areas they cover. 'As-is' clauses, as you can tell, often cause confusion because of, how they are interpreted, the implication of its terminology and how they relate to and impact the standard sections/provisions in the existing contract. Significant issues arise when an introduction of an additional provisions or an addendum (such as 'as-is') because they can create quagmires within the contract, unless they are addressed or clarified - that is why you see terminology such as '... conflicts in part or in whole... this provision shall prevail... not withstanding...unless agreed upon elsewhere...' etc. Real Estate contracts have legal consequences so one is advised to seek legal counsel; regardless what an agent says.

The premise of 'as-is' is that one is agreeing that no repairs are going to be performed by seller, especially arising from an inspection. Yes, cavaet emptor; as you see it, is what you get, with all faults and current condition and no warranties. Now, to address your 'what-ifs' concerns. Well, that depends on your contract and your state's legal precedence and viewpoint. For example, here in CO, its generally taken that the condition and inclusions are based upon the day one saw the property and of the date of the contract. So, if things change since then, then in theory, it is to be disclosed and restored to the condition as it was as of the date of contract. However, that may not be the case everywhere so its important to get an understanding of how contract work for your state etc. Put it this way, if anything is not addressed, then it should be - and that is why its important to seek a lawyer to explain things to know where you legally stand and have them draft up a provision or two which addresses and resolves your concerns and then submit to the seller; especially that you've shown concern over the agents' 'chicken scratching' and winging it ... otherwise, as you have expressed the concern, in certain instances such 'as-is' clause could imply that no matter what, you're buying it...

Remember, assumptions are the mother of all ****ups and 'if its not in writing, then it doesn't exist'.
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Old 11-05-2012, 09:02 AM
 
12,978 posts, read 11,598,103 times
Reputation: 5390
Strong disagreement.

An as-is clause in no way changes a buyers right to inspect and request repairs in Nevada and I think most places. That is dealt with by a separate clause in a normal NV contract called "Seller's additional costs and limit of liability". That clause can be set to zero if the seller won't pay anything by a counter though it would still not prevent the buyer from asking and walking if a deal cannot be reached.

Having your lawyer whip up a few clauses can be a large problem. Confronted with a substantial addition I would immediately suggest to my client that we counter it out. If the buyer insists I would get a lawyers review quote and counter that as a front end payment. The standard contract is a well worked document. If you wish to deviate that is your right but we presume that is not in our clients best interest until proven otherwise.

There are RE Agents who routinely use a large extension. I will always recommend killing it or no deal...full review of a deviant contract can run thousands of dollars. And they virtually always protect the brokerage involved at the expense of other participants.

Some times have to accept such an addendum on bank deals. They normally though are actually not terribly bad. Redundant rather than different.

I would expect substantial modifications to the standard contract to kill most deals.
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Old 11-05-2012, 10:27 AM
 
371 posts, read 1,114,246 times
Reputation: 202
Quote:
Did the buyers agent know it was as it before writing the offer?
No. If he knew he didn't say. He brought it up AFTER the offer was made and the contract paperwork was half-way through. Then we had to go back and the contract was modified in all sorts of way that i don't fully understand now.

Just hired a lawyer to take a look at it all and explain it me.
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Old 11-05-2012, 10:29 AM
 
3,404 posts, read 3,989,145 times
Reputation: 2385
Quote:
Originally Posted by Minier View Post
No. If he knew he didn't say. He brought it up AFTER the offer was made and the contract paperwork was half-way through.
I don't know what you mean by half way through. Did you have an accepted offer before the as is addendum was presented to you?
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Old 11-05-2012, 12:11 PM
 
Location: southwest TN
8,064 posts, read 13,673,515 times
Reputation: 14355
Minier, that's the absolute best thing you can do. I would be incredibly uncomfortable not just with the addendum or the addendum's addendum but the way it was done. Addendums can easily have unintended consequences, altering parts of the initial contract subtly.

This is way too "last step" for me and I'm glad you are seeking a legal opinion.
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