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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.
No Need for Repairs: If you sell your house "as is," it means that the buyers will have to deal with any problems in the home. They will deal with the repairs and hire contractors if needed.
The majority rule on this question places the burden of loss on the purchaser of the property. The general theory on which these decisions are based is that the purchaser is the equitable owner of the property, entitled to all the benefits thereof, and should therefore be required to bear the loss.
At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.
A sufficient description of the real property to be sold. The sale price, or consideration to be paid for the real property by the buyer. The amount of any earnest money deposit to be paid by the buyer. The manner of payment of the sale price by buyer, including when it will be paid.