'As Is' Means As Is for Termites
". . . All clauses in this Contract pertaining to Property condition, termites or compliance with city, state or county regulations are hereby deleted from this Contract. . . ." - AS-IS para. #3, Addendum of Clauses, GCAAR Regional Sales Contract
Yes, it means what it says. Read it, live it, and breathe it when you set out to present your next "As-Is" sales contract.
- It means that if the purchaser discovers infestation and structural damage resulting from wood destroying insects - tough luck - purchaser pays for the treatment and repairs.
- It means para.#16 of the Regional Sales Contract, "Termite Inspection" is DELETED - POOF! GONE!
Caveat: A seller cannot hang his/her hat on the "As-Is" clause if the seller intentionally or negligently misrepresented a material condition or fact; or if the seller fraudulently concealed a material condition or fact; or if the seller made a false promise of a character likely to influence, persuade, or induce.
- Filed under: Agents | Buying 'n' Selling | GCAAR Regional Sales Contract | Real Estate | Tips or Advice
About the Author
Todd Ewing
Todd Ewing founded Federal Title & Escrow Company in 1996. He's also a partner with the law firm Tobin, O'Connor & Ewing and co-founder of closingquotes.com, the first online marketplace in the U.S. for real estate closings.
He received his law degree from Drake University Law School and his undergraduate degree from Iowa State University. Mr. Ewing has practiced real estate law in the DC metro area since 1991 and he's a member of the DC Bar and Maryland & Virginia Land Title Associations.
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