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Updated almost 3 years ago on . Most recent reply

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Ron Mussatto
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"AS IS" offer but include inspection contingency

Ron Mussatto
Posted

Of course an AS IS offer is attractive to seller and increases my opportunity for more deals.  But how do I present an AS IS and include a inspection contingency?  Secondly, when I have the contract, how can I come back to buyer after inspection if I found roof needs replacing and ask for some dollars off for a new roof?  

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Wow, lots of varying and in my mind, wrong interpretations here.

Given, some states have some different wording about inspection contingencies.

As Is only means that a seller is Not agreeing UPFRONT to do any repairs on items found needing to be repaired, typically those required to secure fha or conventional financing.....that is All it means.

It does Not mean that a buyer can’t have an inspection and either walk away or ask for a price reduction as a result of items found in the inspection.

As Is and an Inspection Contingency are not related to each other and are Not mutually exclusive (in the vast majority of markets).

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