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If the contract of purchase identifies the property to be

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sold "as is" is the...
If the contract of purchase identifies the property to be sold "as is" is the seller required to sign the home inspection contingency addendum
Submitted: 2 years ago.Category: Real Estate Law
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1/3/2016
Real Estate Lawyer: Richard, Lawyer replied 2 years ago
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,035
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hi! My name is ***** ***** I look forward to helping you.

Can you provide me a bit more information? Are you the seller or are you the buyer? Thanks.

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Customer reply replied 2 years ago
I am the seller
Real Estate Lawyer: Richard, Lawyer replied 2 years ago

Thanks for your quick reply. There is always an area of tension between buyers and sellers. And, it is certainly negotiable. BUT, typically, even though buyers are agreeing to buying the house on an "as is" basis, buyers are going to insist that a seller sign the addendum because they want the right to at least inspect the property to insure there aren't problems of which they are not aware. When they agree to buy "as is," they are basically telling the seller that they recognize that the house is priced in its present condition and do agree to the price based on what they can see; BUT, if they plan on living in the house (as opposed to tearing it down), they only agree to do this contingent on the right to have it inspected to make sure there are not things of which they are not aware. So, even though buyers and sellers can agree that the seller isn't going to sign the addendum, a buyer typically will do this only if they are planning on tearing down the existing structure and building a new home.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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Category: Real Estate Law
Satisfied Customers: 56,035
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Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.

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