inspection: Does AS-IS mean NO repairs?
- 08/19/10 04:39 AM
This comes up a lot these days, since most of the contracts in my area are worded AS-IS. Issues arise from VA/FHA, insurance and home inspections. The buyer is left wondering if the seller will make the repairs even though it is an AS-IS contract. Often, if the seller is a REO (Bank owned) property - we have been successful to get the bank to make the repairs to get everyone to closing. I usually encourage the buyer to ask for the repairs in this case. With short sales, the fact is the seller usually has no funds available to them to have the repairs … (2 comments)
As a real estate broker and REALTOR® in the Greater Orlando and Tampa Bay’s Clearwater / St. Petersburg area markets... I have seen many changes over the years serving my loyal investors, buyers, sellers, tenants and landlords throughout Central Florida. From the happiest moments of buying their first home to the tough decision it is time to move on, I am thankful my customers and their friends and family continue to honor me with their real estate business and referrals.
My hope is that blogging about these experiences will help fellow REALTORS®, mortgage brokers, real estate professionals and customers with their transactions... as their stories & comments have enlightened me over the years and made me a better REALTOR®.
This comes up a lot these days, since most of the contracts in my area are worded AS-IS. Issues arise from VA/FHA, insurance and home inspections. The buyer is left wondering if the seller will make the repairs even though it is an AS-IS contract.
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