An “as is” sale generally means that the buyer accepts the property in the condition that is visible and observable to the buyer. Sellers of real estate frequently attempt to avoid having to pay for property related repairs by selling the property to the buyer “as is.” This term is not well-defined by law.
A real estate purchase and sale agreement that contains an “as is” provision puts potential buyers on notice that the seller is making no warranty about the quality or condition of the real estate to be sold. An “as is” term in a real estate contract should serve as a warning to the buyer about the potential condition of the property to be sold.
When real estate sale is sold “as is,” the seller is not excused from its obligation to make required written disclosures related to the condition of the property to the buyer. Additionally, the seller remains liable for failure to disclose known defects in the property.
When a sale is “as is,” the buyer should be particularly diligent in exercising its right to inspect the physical condition of the property. Most purchase agreements allow the buyer an extensive right to inspect the physical condition of the property.
Attorney Guidance can be Invaluable
Selling or buying a real estate is an enormous undertaking. Lisa Wills is an experienced real estate attorney who can guide you through your purchase or sale. It is good planning and far more cost-effective to have an attorney assist you during the transaction rather than be forced to become involved in a lawsuit later. Contact us to answer your questions and help guide you through the transaction at (925) 463-9000 or send an email.
Lisa Wills of the Law Offices of Lisa D. Wills is a skilled real estate attorney in Pleasanton, San Ramon, Dublin, Livermore, Danville, Castro Valley and Hayward, CA. Please contact Lisa Wills by email at the Law Offices of Lisa D. Wills or call (925) 463-9000.