Home Buying in Tavares>Question Details

Bullfrogpond, Home Buyer in Lowville, NY

What is the difference between a regular contract and an "As Is" for buying a mobile/manufactured house in Florida?

Asked by Bullfrogpond, Lowville, NY Fri Nov 27, 2009

I've bid on a single family home. The seller countered with changing the contract to an "As Is" contract probably because I entered a low bid. What is the difference between the 2 documents?

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Answers

4
All the answers here are very good, but may I add that if you are buying with an "As Is" contract there are specific time periods for inspection. Make sure that you adhere to the timeframe outlined in your particular contract. Make sure that you inspect in enough time to provide a cancellation of contract, in time, if your inspection reveals more repairs than you are willing to make to the home.
If you are not using a real estate agent and need the services of a local real estate attorney, feel free to contact me for attorney in the area that I can refer you to for assistance. Best of luck to you!
0 votes Thank Flag Link Tue Dec 8, 2009
Do you have right to inspect?

Have you had it inspected?

Are you within term of the inspection period?

Do you have Realtor helping you?

BullFrog, if you are not careful you may end up buying something you don't want to own!!!!!

You need to ACT right away!

Find you a lawyer right now if you do not have a Realtor working with you!!!! If you don't have one I can suggest one of several I know.

Just call me and I will provide some names.

John
352-978-4539
0 votes Thank Flag Link Fri Nov 27, 2009
Most Brokers in Florida use a FARBAR "Contract For Sale and Purchase", which is a standard contract used in Residential Real Estate Transactions and is approved by the Florida Association of Realtors and the Florida BAR. When an owner will not make any concessions, such as repairs, in the sale of his or her home, then the listing broker office will use an "As Is Contract". These type of contracts are commonly used in Short Sale and/or REO/Bank owned sales, however according to Florida State law you always have the "right to inspect" the home before closing on it. If the inspection reveals any thing that you are not willing to repair and/or pay to have repaired yourself, then you have the right to cancel the contract and receive your escrow deposit back.
0 votes Thank Flag Link Fri Nov 27, 2009
As is contact means that the seller will not make any repairs to the property and that why will only agree to sell the manufactured home AS it currently is.
0 votes Thank Flag Link Fri Nov 27, 2009
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