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I have sold two properties "AS IS" and that is what it was, as is no fixing anything.
the house I am in now will be sold as a tear down, so basically I am selling land that happens to have a building ont it. I will have removed a lot from the building before I put it on the market.
I think "as is, where is" comes from the auction industry. You go to a farm auction and you buy that big John Deere combine, it's "as is"as far as condition, and it's your responsibility to figure out how to get it home.
"AS IS" contracts in Florida are somewhat misunderstood. AS IS in real estate contracts must taken in the context of whether one is negotiating a residential real estate contract or a commercial real estate contract. In a residential real estate purchase and sales agreement, AS IS does not obviate the need of the Seller to disclose defects that materially effect the value of the property. Florida does not recognize caveat emptor in a residential context. If the condition of the property is noticeable obviously the Buyer is aware; if the the condition is not noticeable, such as a cracked foundation that the Seller is aware but not disclosed to the Buyer, an AS IS contract will probably not protect the Sellee.
Commercial real estate transactions however caveat emptor is still the rule.
Yes, as it does mean something. It clearly means that what you see is what you are getting. You not getting the wallpaper taken down, your not getting a paint job, you not getting new appliances. You getting exactly what you see.
When my parents make the transition, me and my sister we are going to, obviously put their house up for sale, as we both have our own. We will sell it "as is", meaning other than broom sweeping and washing the windows, we are doing nothing, absolutely nothing. We both work and have no time for this, nor any interest. I will also specify to my realtor that we are under no circumstances paying any closing costs what so ever. You want the house, you pay for the closing costs....that is part of the cost of the house, it isn't the sellers responsibility...anothe of HGTV's bright ideas.
I will however have an inspection done on my own, so that way I am going to be aware if what the potential buyers inspection might find.
The price will reflect it. I am not updating any appliances, I am not painting walls. Nothing.
"as is", this is what you see, this is what you get. There is a buyer for everything, and I am not worried.....their house is really geared for a young family as there is a beautiful park a block away, and an elementary school, along with easy access to public transportation, so those factors will clearly take presidence of my moms white outdated appliances. LOL
But isn't the same with any listing? You think the house desirable and you don't want to do repairs. That doesn't mean it's not negotiable, or that a buys won't walk away without them.
It basically just announces what you want to make a sale. It essentially is no different than a standard listing.
But isn't the same with any listing? You think the house desirable and you don't want to do repairs. That doesn't mean it's not negotiable, or that a buys won't walk away without them.
It basically just announces what you want to make a sale. It essentially is no different than a standard listing.
I think it is different, as stated by some here, it means repairs are not negotiable. You buy the property as it stands period. Or you don't period.
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"I didn't do it, nobody saw me"
(set 7 days ago)
Location: Ocala, FL
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My best explanation is that the house is priced accordingly to its condition/average market value. The seller will not make additional repairs and/or the price is fairly firm. I would never say that the price isn't negotiable in an As-Is listing.
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