Legal Question in Real Estate Law in New Jersey
Maneing of selling a house ''as is.''
We are selling our house ''as is.'' This is stated in the agreemnt of sale, but there is also a section in the agreement referring to negotiations between the parties about repairs (if repairs cost more than $250.00 seller can make repairs, negotiate on who pays, or terminate agreement). The buyers of our house want us to credit them a few thousand to make repairs. We say they agreed to buy the house as is, so we are not required to credit them for repairs and can still hold them to the agreement of sale. What does the law say? Some of the work that needs to be done is related to termite damage and we have already agreed to pay for a portion of that work. Thank you.
3 Answers from Attorneys
Re: Maneing of selling a house ''as is.''
Normally that language means no repairs are required, but that result presumes several matters: What was the condition of the house and its components? What was represented as to the condition? Did the Buyers have an opportunity to inspect the house before entering the contract? Are there problems that have not been disclosed? Are their any major structural or component problems? Is there radon or other gases present in higher than acceptable levels? What about mold, asbestos, ureaformaldehyde or other unhealthy matters? The presence of infestation? Are all major appliances in working condition? These and several more items may present different opinions as to what is meant by "as is" and what inspection results may require. More information is necessary to give you a better answer.
Re: Maneing of selling a house ''as is.''
The answer will depend on the exact language of the contract, and on the repairs that the buyers want you to make.
Your attorney should be giving you a clear and thoughtful answer to this question. If your attorney is not doing this, get a new attorney. Sale of a house is just not a difficult legal job, although it can take a fair amount of time.
Re: Maneing of selling a house ''as is.''
I live in your zip code and my office is located on Rte. 70 near at Covered Bridge Rd. (near 295). You are correct that the sale is as-is, however, most standard Realtor contracts give the buyer the right to have professionals make an inspection of the property to be sure there are no MAJOR defects. (These are defined in the contract and most typically cover: heat and a/c, plumbing and electrical, foundation, roof leaks, and environmental conditions - para. 18 of standard South Jersey contract Lead paint - para. 19). The buyers can ASK you to repair anything, but if the repairs are not related to these MAJOR items, you do not have to make them and they are still obligated to buy the house. If they do relate, most South Jersey Realtor contracts state that the buyers can cancel if you will not repair or credit for the MAJOR items. (see Para. 20 in standard South Jersey contract). The $250 limits most likely apply to repairs required by the mortgage company, termites, and repairs required to obtain a certif. of occup., if one was required in Cherry Hill Twp. which it is not.
I offer free consultations and would be happy to assist if you wanted to contact me at your convenience. Your realtor should be explaining these things to you as well, if you are working with one. Either way, best of luck with the transaction.
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