Expert: Toni Yates - 3/24/2008

Question
We are selling our parents home (we own) As Is and need wording to respond to a contingent contract. Or, is there a specific contract that we should utilize to respond to the buyers?

Answer
Hi Sheila-
Thanks for the question. I usually say something along the lines of- "This property is being sold in as-is condition with no warranties express or implied" or wording to this effect. If you want- you can give the buyers an out such as - "Buyers may elect within ____ days of contract ratification to have a home inspection by a certified home inspector at buyers' expense for informational purposes. This inspection will be pass/fail only. Buyers may, as a result of this contract, submit a release of contract along with a copy of the full inspection report to sellers to void this contract. No repairs, other than those required by law, will be made to the property as a result of this inspection." These are just a guideline and you may want to consult an attorney but they have worked for me in the past. Hope this helps. Good luck, Toni