Are "As
Is" Sales of Real Estate
Property Legal In California?
How do you handle home inspections duties for such
properties? Sellers generally use the term "as is"
to mean they will not be responsible to buyers for the condition of the
real property being sold. although its not illegal to merely insert an "as
is" clause into a purchase
agreement, the term is ambiguous
and can cause a lot of confusion. One common misconception is that
selling "as is" means that a seller is not responsible for any repairs,
including required government retrofits (such as smoke detector and
water heater bracing) or other things. Another common misconception is
that selling "as is"
relieves a seller of the duty of disclosure any known material facts
that may affect the value or desirability of the property.
Similarly, the fact that property is being sold "as is" does
not affect an agent's duty to inspect residential property, the
seller's obligations with regard to the Real Estate Transfer Disclosure
Statement, or other legal obligations related to real property
transactions.
Courtesy of: Crescent
Moon Realty, Inc.
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484
Great points - very important to understand that seller disclosures are absolutely required even if the sale is as-is. Regards, Dave
Jun 26, 2012 01:11 AM
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