Some Florida homeowners sell a house as-is, meaning you will purchase the residence in its current condition regardless of its defects. While it is possible to get a home for a cheaper price this way, you could end up with a very flawed house that will prove expensive to repair.
As with other real estate purchases, you as a buyer have rights when it comes to purchasing a house as-is.
The right to honest disclosure
The seller must give you a proper description of the home, including its condition and its known faults. You may have no problem with a few manageable defects, but if the seller is hiding foundational problems or a major roof leak, you might have legal recourse to hold the seller responsible for misrepresenting the property.
The right to a home inspection
Like any real estate purchase, you may consider having a professional inspect a house offered as-is. The seller might even encourage you to do so. However, if the seller fails to bring up an inspection option, you may insist on an inspection contingency in your agreement.
The right to a where-is provision
In addition to an inspection contingency, you could also check your agreement for a “where-is” clause. This means the price of the house is dependent upon the current condition of the home, with all known or not known aspects. If the home suffers damage later on, you could get the property for a lesser cost or back out of the deal.
An as-is home purchase could be promising, but it carries risks. Knowing your rights is important if you wish to move forward.