Legal Question in Real Estate Law in Illinois
My purchase contract addendum on a foreclosed property has a "where is / as is" clause. Do I still have recourse if an inspection shows safety or code issues?
Asked on 9/06/12, 9:57 am
1 Answer from Attorneys
Henry Repay
Law Offices of Henry Repay
It may be that your contract's inspection provision needs to be read separately from the "where is/as is" provision. I expect that you have rights under your inspection provision, but once you are beyond negotiating the inspection issues, you are generally without any representations or warranties. You need to have your closing attorney review these details as these addenda read differently from transaction to transaction.
Answered on 9/06/12, 11:38 am