Legal Question in Real Estate Law in Florida
as is condition
what are the rights of a tennant in a contract with an as is clause on structual repairs.we are suppose to asume all repairs but just found out the roof needs to be replaced and the cost is 16,000.Are option is up in january but dont want to loose the 7,000 invested in the house
2 Answers from Attorneys
Re: as is condition
You must clarify the nature of the agreement under which you have a right to the property. Else the reply of Mr. Cohen is accurate.
Re: as is condition
Your rights are set out in your contract. "AS IS" means just that. However if you can prove that the sellers knew of a problem and intentionally concealed it, you may obtain relief. Perhaps you can negotiate a price reduction, threatening not to close..the seller could be anxious to close and may grant a concession. Remember, your $7000 is what you cna consider rental value as well. Finally, you may be able to sell your option to a purchaser, after you allow them full disclosure of the property condition.
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