Home Buying in 89084>Question Details

Zapper, Home Buyer in 89084

Made offer on a house CONTINGENT upon INSPECTION. Seller countered "BUY AS IS" . Inspection shows headaches. Is my orig Cont Insp give me?

Asked by Zapper, 89084 Wed May 25, 2011

EMD back? I SIGNED THE COUNTER OF "BUY AS IS" BEFORE THE DUE DILIGENCE. WHAT IS MY RIGHT? HELP!!!

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3
Allan Erps’ answer
No contact, no obligation. Would walk form this home if there are major concerns or get price you are very commfortable with to consider purchasing. If say the house had termites or safety issues that the Town would pick up on, you would not be able to close the loan with most Banks anyway until corrected. Best of Luck
0 votes Thank Flag Link Thu May 26, 2011
My question has to be to you, Do you have an Agent? The Contingent clause in a contract allows you the buyer to get out of the original contract for any reason what so ever, even if the inspection finds nothing. If you signed a 'buy as is" contract you MAY have given up your right to the home inspection contingency! If a house is "As Is' you need the inspection BEFORE you make an offer, then base your offer price on the items your inspector finds and the costs to repair them.
A Buyers Agent is paid by commission from the sale of the home, and should be FREE to you. They will guide you through this situation.
0 votes Thank Flag Link Thu May 26, 2011
Hi Zapper,

The "BUY AS IS" means the seller is not going to give you a credit or repair any of the issues of the home inspection. If you had the home inspection done and it came back with more issues than you want to tackle, then YOU do not "pass" the home inspection and sign off on it.

Just because a property is being offer "as is" it does not mean you should not know what "as is" is. The home inspection should be done regardless of whether the seller will credit the buyer for repairs to let the buyer know what they are buying.

Good Luck,
Zisis
0 votes Thank Flag Link Thu May 26, 2011
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