Do you know what an “as is” contract actually indicates? Today I will explain the truth about this arrangement.
Despite the name, an “as is” contract does not truly mean you are purchasing a home as is. If this was the case, the 12-page contract would simply be a one-page bill of sale.
In fact, you will notice that “as is” is written at the top of the contract in quotation marks. This would be the equivalent of me saying my friend Dave is a “smart guy.”
With that said, an “as is” contract indicates that the home will be sold as is, subject to inspections. The inspection allows buyers to walk away and cancel the contract if issues are found. Or, if they would rather not cancel the contract, they can also renegotiate. So, ultimately, an “as is” contract is not a “take it or leave it” contract.
"An 'as is' contract is not a 'take it or leave it' contract."
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.