I may be relocating to the area and noticed that a lot of listing are AS IS w/ RTI. I assume this to be As

Greg
Home Buyer
34990

is with respect to inspection. Is this correct? If so, does it mean that if the inspection turns up problems, there is no new negotiation? Should the inspection be done prior to extending an offer? Thanks in advance.

Answers (2)

RTI means "Right to inspect". If the inspection turns up problems you may, rescind your offer if the cost to repair the problems exceed an established amount, accept the contract as it stands or try to renegotiate the sale price with the seller. An approximate cost of inspection is $300.00. I would make sure my offer contains a repair amount you are willing to accept, for example $1000. If the inspection exceeds that amount then you have the option to walk away, try to renegotiate or accept the repair costs.

Tue Jul 28 2009, 11:10
Gabe Sanders
Agent
Martin County, FL
FIRST ANSWER

Hello Greg,

You are correct in the meaning of As Is w/RTI. However, all it means is that the sellers really don't want to do any repairs. You should not do inspections before submitting an offer and obtaining a bilateral (agreed upon) contract. There will be an inspection period and you have that opportunity to discover any possible defects in the home, lot, code compliance, etc. If a defect comes to light that would impact the value of the home or your purchase of the home, you have every right to attempt to ask the seller to either repair it or give a credit for the condition. The seller can either agree or refuse. Should the seller refuse, you then have the right to walk away from this contract and purchase with all deposits returned to you. You will be out the cost of the inspection.

If you have any other questions about the sales process in Florida, feel free to contact me through my website. Address is below.


Good Luck,
Gabe

Tue Jul 28 2009, 11:04

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