Posted by D.E. in N.Y. on December 14, 2002 at 08:51:43:
Why don’t you just ask her what it means? Honestly, you can take it to the bank that i would have already had her on the phone. it could be something totaly benign or maybe she is hiding some flaw in the property. there is only one way to find out.
Help! Will this void the contract??? - Posted by Kevin(TulsaOK)
Posted by Kevin(TulsaOK) on December 14, 2002 at 08:45:31:
Thanks in advance for your help.
I was in a rush to get a contract from my seller and to the title company Friday. In my haste, I didn’t notice that the seller had written the words “As Is” with her initials on the contract just above the Financing Conditions section. I didn’t notice this until after I had left the title co., so I have not initialed this revision. Since this “As Is” doesn’t pertain to anything, does it void or complicate this contract? Can I just initial the contract that is at the title co. and proceed with this deal?
When I picked up the contract, the seller was complaining about not getting a good faith estimate on her closing costs, so I guess this “As Is” has something to do with that. Anyway, thanks again for your help!
Kevin(TulsaOK)
Re: What contract??? - Posted by Ed Copp
Posted by Ed Copp on December 14, 2002 at 14:20:11:
You do not have a contract at this point. What you do have is a counter offer from the seller. It is not a contract until you agree to the “as is” (counter offer) by your initials being placed there with those of the seller, and then it is not officially a contract until yout initialed copy is delivered to the seller.
Your sellers unaccepted counter offer is not a contract because you have not agreed to the change.
Re: Help! Will this void the contract??? - Posted by Doug
Posted by Doug on December 14, 2002 at 10:54:32:
Kevin,
Be carefull. "as is " always pretains to the property itself! It means she is selling the house in AS IS condition and therefore does not warrant ANYTHING. If the house is a fixer -upper / handy man special, then it’s ok for “as is” to be in the P&S. But if it does not need repairs and you buy this house without an inspection, you are screwed if there is something wrong with it. You cannot sue here later for if she lied on her sellers disclosure statement (she did fill this out, right?).
I would not buy without an inspection unless it’s a fixer upper. If it’s not, tell her to remove or cross out "as is " from the P&S or if she won’t you’re walking away. No deal is better than a bad deal!!!
Doug