Quote:
Originally Posted by retiredguy123
I don't think that selling a house "as is" is the normal procedure in Florida, or other places I have lived. Most buyers would not agree to an "as is" sale, except maybe in a very hot market.
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It is not normal but it does happen. Typically the offer is contingent upon an inspection, paid for by the buyer. When we bought our home in TV, this was the case, and any "non-cosmetic" issues up to a certain % of the agreed upon sales price ( I can't remember what the % was. Seems it was 1 or 2 %) the seller was obligated to fix. Anything more than that became a negotiating point. Parties could walk away from the contract, or negotiate a solution.
Cosmetic issues were not included. "Cosmetic" items included chipping paint, broken bathroom tiles that still sealed etc. The pavers were cracking in the driveway and I was told that was "cosmetic"...as I look back on it now I wonder if I couldn't have raised a stink about the loose border pavers, as an argument could be made that those constitute a tripping safety hazard. I probably would not have made much of a stink as we were happy overall with the price we'd agreed upon.
Seller did have a couple of thousand dollars of repairs she had to do, based upon our inspection.
In very hot markets I have heard of buyers "waiving" inspection in order to get the house. That is probably the same as an "as is" purchase, I'm thinking.