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"AS IS" ADDENDUM Saved My Client From Making A Bad Investment and Made Me Look Like A Hero!
I would like to share a recent experience that relates to the use of a standard "As Is" Addendum that was submitted with a recent offer to purchase from one of my clients.
The simple choice to use this form afforded additional comfort for my clients, and strengthened the trust and confidence within our Realtor-Client relationship!
The house they were attempting to purchase was a brand new construction, custom built home. It seemed to be beautiful, but it was in fact wrought with problems and complications. The builder ran out of money and never finished the house. In fact, many things that appeared to be finished were actually done quite poorly.
While we were told by the selling agent that about $15k would take care of any outstanding issues with the home, my clients paid for a home inspection which revealed a totally different story. Things were much worse than my clients thought. They were facing a minimum of $25k or more that was needed just to make the home livable.
Along with the offer to purchase, we included the "As Is" Addendum and chose the option at the bottom of the page which includes the following:
"Buyer shall have _____ calendar days from ... more

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