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If we have a contract to sell our house "as is" from a buyer is there any way they can back out?

If we reach an agreement on a sales price for our home and the buyers pay for a home inspection is there a way they can back out if they want something fixed in the home? We are selling way below our value for a quick sale and don't want to fix anything else in the home, so we want to put the clause selling "as is".
  • July 10 2009 - Toledo
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Answers (2)

If the property is offered 'as is' they can ask you to make repairs, or ask you to fund repairs but you are not under obligation to make the requested repairs.

They can still back out of the agreement if they have an inspection contingency that essentially lets them out of the contract if there are repairs they are unwilling to accept. The inspection contingency is often a way to reopen negotiations to deal with issues that were not evident at the signing of the original purchase agreement.

As Gwen states, there may be some issues that you would have to resolve (or escrow funds to make the repairs) due to potential safety issues and issues that would keep anyone from buying the home, irregardless of the 'as is' status.
  • July 10 2009
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Buyers today will continuously try to get more from the seller.  Strongly emphasize at the time of acceptance that the price is firm and there will be no exceptions.  Bear in mind that you will be responsible for a termite or pest treatment should that issue arise at the time of inspection and if there are any true structural issues, you may be responsible for that as well.  If the buyers really want the house and you are giving them a good deal, you should be able to make it through the inspection w/o giving up any additional money.  I just closed an "as is" sale where throughout the whole process, the buyers' attorney kept making demands for repairs or credits and we continually responded with the "as is" agreement and said it was such a good deal, we would put it back out and sell to someone else.  We did have to perform a termite treatment, but did not make any repairs or credit for the damages. 
  • July 10 2009
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