How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barrister Your Own Question
Barrister
Barrister, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 35835
Experience:  Attorney,16 years experience in consumer protection areas
19958803
Type Your Consumer Protection Law Question Here...
Barrister is online now
A new question is answered every 9 seconds

This is regarding a real estate contract. I Signed contract

This answer was rated:

This is regarding a real estate contract. I Signed contract to sell my house for $141,500, "as is". It was listed at $136,000. The buyers have no money so $5500 was added for their closing cost and I am giving them at closing the $5500. They had Rural Development as loan, then after contract was signed they switched to FHA. The house appraised for $141,500, but I have to do certain things to bring it up to FHA standards. I signed "as is".
Am I locked in to this contract and have to make these repairs?
Hello and welcome! My name is XXXXX XXXXX I will try my level best to help with your situation or get you to someone who can.
.
Am I locked in to this contract and have to make these repairs?
.
No, you don't have to make any repairs unless you want to. When a house is sold "as is" then you are selling it as it sits, defects and all. Since the seller changed their lender to someone who found things that they want repaired, that is up to them to have the repairs made if they want to get a loan from that lender. An inspection report is not a "honey do list" that the seller has to complete in an "as is" sale.
.
With that said, if the repairs aren't made, the lender won't make the loan and the whole deal will fall apart.
.
.
Thanks
Barrister
Barrister and 4 other Consumer Protection Law Specialists are ready to help you

Related Consumer Protection Law Questions