A Buyer’s Right to Know about AS IS Properties

by Isaac Benmergui, Esq on November 14, 2017

AS ISIt used to be that only foreclosures and short sales had AS IS contracts. But in today’s real estate climate, sellers are scarce and buyers are outnumbered, so AS IS contracts are a popular tool to help sellers get more money out of their property by doing less to sell it.

But even when you’re buying a home AS IS, you have a right to know certain things about the property, and you should absolutely still get the home inspected, just so you know exactly what needs to be done before you move in.

Even AS IS sellers have an obligation to disclose certain things to the buyer, including:

  • Lead-based paint. Be on alert for this hazard in any home constructed or remodeled before 1978. Lead is a serious hazard that the body is unable to remediate; once damage is done by lead, it’s irreversible.
  • Unpermitted improvements. Add-ons, remodels, conversions, electric and other work needs to be inspected and permitted.
  • ANY facts that affect the property value that aren’t readily visible. This could be a roof leak covered by new paint, termites, snakes, or other infestations that have been treated just enough to keep them at bay through closing.
  • Notices of uncorrected building, environmental, or safety code violations. Whether a government agency has notified the seller of any of these things.
  • Disclosures required for properties in an HOA or COA. Buyers typically have a predetermined time period to review all rules and regulations associated with an HOA or COA property.

Call Miami Real Estate Lawyer Isaac Benmergui at 305.397.8547 and set up a no charge, no obligation consultation to discuss your case. We have over a decade of experience handling Real Estate and Civil Litigation cases throughout Miami and South Florida, and will use our expertise to help your case to the best of our abilities.

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