Between as is contract and settlement

[Chris Nonn]

I have a contract on my second house!!! Viewed house and had some problems so signed "as is". Viewed entire house and knew issues. Appraisal guy for bank came and wanted foundation and roof inspection. Inspector came and foundation is fine and around one of the chimneys there was small leak due to flashing which I knew about. ALSO, due to a recent storm a branch fell on overhead electric line which a pole that was attached to house and went through part of roof was partially ripped away from house and now you can see through part of roof for underneath house. To get the final go ahead on roof inspection that has to be fixed as well. This happened after I had the house under contract. Only a few hundred dollar fix but should this be out of my pocket or the sellers? I know I have to pay for flashing around chimney but I don't want to pay for electric pole/roof fix. I settle in 6 days, should I just pay for it or is there something I can do/ should I do. Thanks

[Matt Devincenzo]

Originally posted by @Account Closed:

If it happens after you have it under contract you need to fix it or just walk away and lose your EM if there is any.

Joe Gore

This is patently incorrect. "As is" means that you are buying the property in the condition it is in at the time of executing the contract. If that condition changes you are not now on the hook and just lose your EM. If the property burned down overnight are you still going to lose your EM were you to walk?...obviously the answer there is No.

So while the seller may not be willing to make the repair since it was sold "as is" and you then do have the repair/walk decision, your EM is refundable as the property condition has materially changed compared to what your offer was based on.