Thus, beyond stating the obvious GET AN INSPECTION (which they hopefully have already done --if they are the purchaser) they really need to have a professional review their contract. Yet, they have not told us if they are even working with a Realtor.
Johanna, can you fill us in with any more information?
First of all; are you paying at least 10% under the Market Value?
Do you know what Market Value is?
Did you protect yourself completely in the Purchase Agreement?
Are you trusting the Seller that everything is going to be alright?
Did you include Contingencies for the Loan, the Appraisal and the Inspections?
You are doing Inspections, right?
There is a lot more to know, but we're out of time.
You are not clearly identifying if you are the Contract Purchaser, with a fully ratified Sales Contract or if you are the Seller, with a fully ratified Sales Contract.
But, you have disclosed that it is a house (residential) and you appear to be in Centreville, VA so you would be subject to the Virginia laws when it comes to a sale.
As either party in the transaction your contract must include a "Residential Property Disclosure Form" (except for some rare cases.) If it was constructed before 1978 there must also be a "Lead Based Paint Disclosure form." If it is in a HOA or Condo the seller has to provide a Resale Disclosure Package.
A Seller must be truthful to the best of their knowledge on all these matters or be subject to the severe potential consequences. If you would like to know more please contact me:
Gregory F. Scheihing
NAR - Green Designation
RE/MAX "Hall of Fame" award recipient
2911 Hunter Mill Rd. #101
Oakton, VA 22124
Your agent has seen the "As Is" contract you signed as well as the contingencies included.
"our 'as is' home" implies you are the seller? Are you the buyer or the seller?
What happens next hinges on knowing if you are the buyer or the seller.
One will be writing checks the other developing strategies.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Look for a clause in your Contract that allows you to back out if he finds a lot wrong.
Look at the Seller's DISCLOSURES.
Compare the Disclosures to the Inspection and see if the Seller lied.
Look for a Realtor to help you next time you buy a house.