Purchasing An “As-Is” Home In Florida
For over three decades, the legal principle “caveat emptor” hasn’t been as absolute of a concept as it once was thanks to the 1985 Florida Supreme Court’s ruling in Johnson v. Davis. Even when Florida homes are sold with an “As-is” clause, sellers aren’t relieved of disclosure duties under Florida state law. Sellers still have to let buyers know about material defects that they are aware of concerning their Florida home for sale.
Of course, this disclosure is absolutely no replacement for a full inspection, because the sellers are not responsible for issues that they don’t know about. In fact, owners aren’t responsible for issues that they don’t know about, even if it seems as though the realistically should have known about them.
Contract Used For “As-Is” Home In Florida
In the State of Florida, the standard contract will have three lines for specific repairs that include general repairs, wood-destroying organism repairs and open permit repairs. Still, there’s a different form used for homes for sale “As-is” and that form doesn’t have those three lines. Never-the-less, the deal is still dependent on a satisfactory inspection and the buyer can back out if the inspection doesn’t look good if they want. The real point of the as-is purchase is that if the buyer wants to move forward, but the bank demands repairs, the seller isn’t willing to pay for them.
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