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selling "as is"

I am selling my house "AS IS", AFTER THE BUYERS HAVE AN INSPECTION OF THE HOUSE AND/IF THEY FIND SOMETHING WRONG , for example, with my AC or heating system, should I pay for any repairs? In our binding contract I have to pay max 200 dollars for repairs, something i agreed.
Please, could you help me with this issue?
Thanks!!
Elle
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July 31 2013 - Atlanta
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Answers (7)

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Hi Liz, 
I have a home warranty like a seller already. I have been told from my agent that I need to pay only $60  in the end( at the closing) and $60  if I call to check my heating and AC system. I had some experience before with home insurances and my agent also told me that  when they come to check they easy can say  the problems( if I they find problems) are preexisting condition. So I have to pay  for the repairs.:( 
Do you mean some other kind of home warranty?? Please, let me know because it sounds like it could work for me fine.
Thank you!
Elle
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August 01 2013
One way to resolve this is to pay for a home warranty at close. They are fairly inexpensive a few hundred dollars in many cases, and it provides a simple insurance plan for the new buyer, AND it helps you close the house. I know that we as sellers want to keep as much as possible in our transactions, but sometimes we catch more bees with honey than vinegar.

Best of luck to you,
Liz
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July 31 2013
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Thank you all ! Now I really understand.., but my agent told me that if I sell "as is" -  it means the buyer will know in advance that I do not have any responsibility for repairs, but did not explain me that the buyer just can go away if I refuce to repair.
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July 31 2013
The Buyers are free to ask for whatever they'd like.  Its up to you to weigh the benefits of resolving the concerns and getting the house sold vs. putting back on the open market.

Sometimes a bird in hand is worth two in the bush!
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July 31 2013

Basically you can sell "as is" and after inspection the buyers have the right to walk away and not buy the house if they don't like the inspection report.  So if you really are wanting to sell the house work with them, if not take a chance on another buyer soon that is willing to take house  "as is"

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July 31 2013
Tim and Rachel explained it well, no obligation to do anything on your part. However, if problems are present that preclude a sale, then it's best to consider addressing them or negotiating out a deal.

Is your agent providing guidance?
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July 31 2013
Saying you are selling AS-IS means just one thing and nothing else, it means you are not willing to make any repairs or adjustments to the price for repairs or problems found.

Does it mean that the buyers can not ask you to do repairs? Nope. Does it mean the buyers can't ask you to reduce the price based on needed repairs? Nope. Does it mean you are off the hook to make repairs? Maybe. Can the buyers walk away if you refuse to make the requested repairs? YES. Can the buyers walk away if you refuse to adjust the price based on the repairs needed? YES.

The bottom line is how much do you want to sell? Do you think the next buyers to come along will not ask for the same things again? Using the term AS-IS is not anything magical, it does not prevent anything by anyone. You can be asked, you can say no, the buyers can walk away.

tim
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July 31 2013
 
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