Legal Question in Real Estate Law in Florida
''As Is'' sale & disclosure
Seller has fully disclosed known defects on 'as is' sale. During inspection buyer finds new 'cosmetic' problem. What is seller's obligation? Can buyer renege on contract?
1 Answer from Attorneys
Re: ''As Is'' sale & disclosure
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This would be answered by the terms of the Contract for Sale and Purchase. Most "As Is" Contracts give the Buyer a period of time for inpections. If the Buyer finds conditions in that inspecition period, they can usually cancel the contract for any reason whatsoever. Sellers have resorted to "As Is" contracts as a way to avoid paying for any repairs but they also provide the Buyer a way out of the Contract if desired.
Scott R. Jay, Esq.