Hi Everyone,
If you sell a house 'as is' is the seller then under any legal obligation to fix something that does not work? For example, the buyer makes an offer for the house 'as is'. If you then discover the space heater no longer works and there is a gas leak from the stove would the seller have to fix those things?
My understanding is that the buyer has the responsibility to inspect the property and fixtures and if they put in an offer 'as is' then they accept it with any defects and whatever fixtures that need fixing and/or do not work.
Is an 'as is' offer the same as an unconditional offer?
Thanks.
from what i understand if they are selling it 'as is' means you need to do your own due diligence, make sure the stove works, ceiling fans lights powerpoints heaters etc because when u move in if it doesnt work and you didnt check it then your taking on all the problems the property has because you bought it 'as is'.
i think they include this in the contract always unless its like a new house thats still under a building warranty..i dont know about an as is offer i would say any offer you make is based on the property being as it is unless you make a conditional offer like
$200,000 subject to fixing the oven, range hood and retiling the bathroom. that would be an offer that is not 'as is'.. ??
Hey there, i am unsure about the term 'as is' offer however from what i understand the only time that something is as is and totally unconditional is if you sell via an auction, as with an auction the buyers have the opportunity to do any inspections they wish before the day of auction, once they are the winning bidders there is no going back as they sign an unconditional contract right there and then with usually a 10% deposit and its final (well in the top end at least)
With a normal offer in the matter of a private treaty sale an offer to purchase is only that it secures the property (normally accompanied by a refundable deposit if the sale does not go ahead) it usually states in there that the offer is subject to…. pest inspection building status report etc. but again only once an offer has converted to signed and exchanged contracts is the deal finally done and the buyer has no going back.
Not sure if this helps but hopefully will give you a bit of a better idea.
One of the properties I purchased stated 'as is'. The terms were that if stove, light switches, etc weren't working they wouldn't have to fix them upon settlement. It was a deceased estate being sold by public trustees and I was still able to state that I wouldn't continue with purchase if I wasn't satisfied with the building and termite inspection.
hi Casper, often mortgagee sales & deceased estates are sold "as is" … this way the lender/ solicitor are not responsible for any problems so "Caveat Emptor" (buyer beware) is especially true here… ie make sure you know what you are buying & make your offer to buy is relevant with regards to any work needing to be done to the property.
Hi,
I am in queensland not sure of other states, if your contract is subject to building and pest and anything is wrong you can negotiate within your said amount of days what the seller will fix and won't fix, after your said B & P time is up usually 7/14/21 days and you haven't had your solicitor raise any issues, it becomes unconditional for building and pest. you can ask for things to be fixed.
I would argue that all properties are sold as is.If the purchaser finds an issue that needs rectification then they can use that as a bargaining point to lower the price, or come to an agreement with the vendor for rectification.Otherwise, the vendor is under no obligation to fix anything. Do your due diligence and inspections so you know what does and doesn't work before you sign.Of course the property needs to be in the same condition as when ithe sale agreement was reached, so if something stops working or is damaged during that period, then the vendor has to fix it.
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