Legal Question in Real Estate Law in Florida
Selling ''AS IS'' residential real estate
What is the disclosure for selling residential real estate ''as is''?
2 Answers from Attorneys
Re: Selling ''AS IS'' residential real estate
There is a formal disclosure in the standard real estate contracts that should be included in every as is sale.
Re: Selling ''AS IS'' residential real estate
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There are a variety of "AS IS" clauses that might be included in your contract. Some are standard clauses that any realtor or real estate attorney will have. They are part of the "standard contracts."
Other clauses are drafted by your attorney to fit the situation. This might include inspection periods, amounts of damage/repairs required, whether or not code violations are included and the like.
Please understand that even with an "AS IS" contract, the Seller is still responsible to disclose any known defects or items that would materially affect the value of the property.
Scott R. Jay, Esq.
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