Sales Contract (Englewood: for sale, real estate, foreclosure) - Sarasota - Bradenton - Venice area - Florida (FL) -Manatee and Sarasota Counties - City-Data Forum

luvfishing · 09-26-2009, 03:46 PM

I just placed an offer on a home in Englewood using a real estate broker. She used the Florida Association Of Realtors and the Florida Bar contract. I had her add a few contingencies including an attorney clause. The seller made a counter offer and also requested I use an "As Is" contract. Is this a common contract in use in Florida? I see this "As Is" contract listed on all the bank floreclosures. This is not a foreclosure. I viewed the property disclosure and nothing wrong is listed. It is a very nice home. I offered $35,000 less than asking and they came back with $15,000 below asking. I plan on making another counter-offer. Any input is greatly appreciated. My real estate broker states that this contract is not an issue and that I have my attorney clause in place for review any way. Thanks AGAIN for all your input.

FLBob · 09-26-2009, 04:16 PM

"As is" is often confusing. It is a way of stating that the seller does not intend to repair anything found during your inspections. But it should also provide you an out if the inspections reveals issues that would cost more than an amount you state as your upper limit on repairs. If you don't think there is anything wrong with the property, and nothing is disclosed, then a low upper limit on repairs would be justified.

luvfishing · 09-26-2009, 04:28 PM

I just got a blank copy of it and read it. I just don't like it. It puts everything on the buyer. Yes there is an opt out clause, but I still don't like it. Yes, I can get inspections done, but if while doing the inspections and something happens- I am responsible for repairs. Like inspecting the septic tank and leachfield. Who knows what is going on below the ground. Something breaks, or caves in and I have to repair- No way. If there is nothing to hide, or worry about, why not use a standard contract. No repairs of any kind are the responsibility of the seller with this contract. The 1.5% of the sales price has "Disappeared".

Peter the Brit · 09-26-2009, 05:22 PM

An as is protects the seller and the only way you get at the seller is though misinformation or non disclosure in a sellers disclosure
You seem unhappy so do not proceed

FLBob · 09-26-2009, 05:51 PM

The first thing to remember is that this is your offer, if you don't want to make an "as is" offer then don't. It's up to the seller to decide if they will accept your terms.

Just one thought, if the seller is responsible for repairs, do you think they will have the work done at the same quality level you would have it done?

Whether you do an as is or a warranted offer, you will still be responsible to restore/return the property to the same pre-inspection condition, and you will want the property properly inspected.

luvfishing · 09-27-2009, 03:59 PM

Quote:

Originally Posted by FLBob

The first thing to remember is that this is your offer, if you don't want to make an "as is" offer then don't. It's up to the seller to decide if they will accept your terms.

Just one thought, if the seller is responsible for repairs, do you think they will have the work done at the same quality level you would have it done?

Whether you do an as is or a warranted offer, you will still be responsible to restore/return the property to the same pre-inspection condition, and you will want the property properly inspected.

Depending on what was wrong- I would either cancel the contract, or request a disbursement at closing and I would fix it. The home appears to be very nice and I doubt there are any problems, but I am the one spending the money on inspections. I want to know that the seller feels their home will pass with no problems. Requesting an "As Is" contract counter-offer makes me feel that they are in control of the transaction and are not that sure what will come up. Again- I am the one spending the money. The transaction broker I am using states that the counter offer to the "As Is" contract is probably due to not paying full list price for the property and the seller feels they are lowering their price by $15,000 and are not willing to pay for anything else....... I then say to myself- "Are there many homes priced above $225,000 selling in this market at list price- not from what I see.........Any way- I made a final counter-offer for $5,000 more than what I originally offered and that the original contract I submitted be used and not the "As Is". If they accept- I'll proceed, if not- I'll look else where and will also be looking on my OWN. This agent I am using really offers no insight at all. I know she doesn't have my best interest at hand. Not sure why I keep using her.........she does work hard and long days, but not for me......but for her broker.....

beachbum wannabe · 09-27-2009, 05:12 PM

I'm curious how old the house is and why you are so concerned about the septic and leachfield. Generally there is not much to go wrong with these unless people are driving heavy vehicles over them or something , or if the house is up there in age, and the former owner has not had the septic tank pumped out, at regular intervals or at all (3-5 years average)

beachbum wannabe · 09-27-2009, 05:16 PM

By the way, last time I checked, (July) there where still plenty of BRAND NEW homes for sale in that price range in the area. Maybe SFLGal has some input on that.

luvfishing · 09-27-2009, 05:44 PM

The home was built in 1993. After talking with a few septic companies, they say any system over 10 yrs is vulnerable to damage- especially the leachfield. Also, I am not just focused on the septic system. My point is that through a regular real estate contract- both parties should be protected and the contract should reflect that.

beachbum wannabe · 09-27-2009, 06:05 PM

Now I'm curious as to what damage the leachfields are vulnerable to,as my new home also has a septic system.