Introduction
“As-Is” contracts are common in Florida real estate, but they can be confusing for both buyers and sellers. Understanding their implications is key to avoiding disputes and protecting your interests.
- What Is an As-Is Contract?
An As-Is contract allows a buyer to purchase a property in its current condition, with no obligation for the seller to make repairs. However, the buyer retains the right to inspect the property and cancel the contract during the inspection period.
- Risks for Buyers and Sellers
- For Buyers: Hidden defects may lead to unexpected repair costs after closing.
- For Sellers: Misrepresentation or failure to disclose known issues can result in legal liability.
- How to Protect Your Interests
- Buyers: Conduct thorough inspections and consult an attorney to understand your rights.
- Sellers: Disclose known defects to avoid future disputes.
Conclusion
Whether you’re buying or selling a property under an As-Is contract, having legal guidance is essential. Strang Tryson’s attorneys can help you navigate these agreements and protect your interests.
Contact us today for expert legal support with your real estate transaction.
