Posted on: 25th Sep, 2006 10:15 am
My boyfriend accepted an offer on rental home. The third line of contract reads \'as is\'. Still the buyer (who has signed the contract) continues to come back to him wanting things fixed (some very minor things). Closing is scheduled this week. My boyfriend is getting fed up and his agent keeps saying \'you don\'t want to lose this sale\'. Doesn\'t \'as is\' mean anything? How far can my boyfriend go before he just puts his foot down? Can he lose his sale? I\'m wondering whose side his agent is on at this point?
Hi Robertson,
In an as-is sale the property is sold in its present condition. It also means that the buyer accepts the property with any kind of defects which may or may not be apparent right now.
I think you should make the buyer understand that you are selling the property with such a clause, that person might not have read the contract papers clearly to notice the "as is" clause.
In an as-is sale the property is sold in its present condition. It also means that the buyer accepts the property with any kind of defects which may or may not be apparent right now.
I think you should make the buyer understand that you are selling the property with such a clause, that person might not have read the contract papers clearly to notice the "as is" clause.
Hi Robertson,
Your boyfriend can not lose the sale. It is just that the buyer is quite worried about the purchase he is going to make and wants to be sure that all the things are in order before he purchases the home.
The agent too seems to be trying to finish the transaction and is trying to clear all the enquiries made by the buyer. "As Is" clause does make it clear that the property is being sold at its current condition but buyer can be allowed some minor enquiries.
Thanks
Colin
Your boyfriend can not lose the sale. It is just that the buyer is quite worried about the purchase he is going to make and wants to be sure that all the things are in order before he purchases the home.
The agent too seems to be trying to finish the transaction and is trying to clear all the enquiries made by the buyer. "As Is" clause does make it clear that the property is being sold at its current condition but buyer can be allowed some minor enquiries.
Thanks
Colin
Hi,
"Doesn't 'as is' mean anything?"
"As is" Sale implies that the seller can reveal defects in the property but he does not have to pay for any repair work on the home.
"How far can my boyfriend go before he just puts his foot down?"
I don't think the seller, that is your boyfriend has to pay anything for the repair. If he does so, then what's use of including the "As is" clause on the sale.
Thanks,
Caron.
"Doesn't 'as is' mean anything?"
"As is" Sale implies that the seller can reveal defects in the property but he does not have to pay for any repair work on the home.
"How far can my boyfriend go before he just puts his foot down?"
I don't think the seller, that is your boyfriend has to pay anything for the repair. If he does so, then what's use of including the "As is" clause on the sale.
Thanks,
Caron.
I'm not sure but may be the agent may be helping the buyer. It can happen that the buyer has given him some commission. I think you should talk to the agent and clarify whether he is working both for you as well as the buyer.