Get As Is Residential Contract For Sale And Purchase Florida 2020 Fillable 2020-2024

A Florida Real Estate Contract must be in writing and contain the following, in order to be legally binding; The parties to the contract – Buyers and Sellers identification. Identification of the Real Property by means of a legal description and street address.

An “as-is” residential contract for sale and purchase is a contract a buyer and seller sign that stipulates that the seller will not pay for any repairs. With a conventional sale, there is usually room for negotiations regarding payment for repairs.

For instance, if you are selling your home to another person, an as is contract means that you will not have to cover any repairs to the property after making the sale. The buyer is purchasing the home in its current condition, and they cannot hold you liable for any defects in the property.

Buyer has carefully inspected the property. Buyer agrees to purchase the property in its present condition only, without representations, warranties or guaranties of any kind by Seller or any real estate licensee concerning the condition or value of the property.

In Florida, real estate sold 'as is' means it's sold in the current condition. If the buyer inspects the property and notices a huge problem or the seller informs them of a potential problem, then the seller need not worry. The seller will not need to make repairs, regardless of their severity.

The purpose of an "as is" clause is to force the buyer to rely upon its own investigation, rather than upon the seller's representations, in determining whether or not to purchase the property.

Proposed clause: The Seller is selling this property in “As Is” condition. Buyer acknowledges and agrees that Buyer is accepting the Property “As Is” without any warranties, representations or guarantees, either expressed or implied, of any kind, nature or type whatsoever from or on behalf of the Seller.

WHAT IS AN “AS IS” CLAUSE? AS-IS clauses are best described as a species of “disclaimer of reliance” clauses. Under such clauses, a buyer generally agrees that she is entering a contract to purchase real estate relying solely on her own judgment and not on any statement or representation by the seller.