Make sure you include an inspection addendum when buying a home "as is". Including an addendum or clause to the contract that allows you the right to inspect a home and cancel the contract during the inspection period is strongly recommended. Having the right to inspect the home and cancel protects you from hidden or unknown defects.
FAR/BAR As Is Contract
When buying a home “as is” you might want to consider using the FAR/BAR As Is contract. The FAR/BAR As Is contract allows the buyer to cancel their contract with the seller if after the inspection the buyer deems the property unacceptable.
FAR as in addendum
Another choice available to you is the FAR As Is With Right to Inspect addendum that you can attach to the contract. The as is addendum gives the buyer the right to inspect the home and to cancel the contract if the cost of repairs exceeds an amount decided on in negotiations or if left blank on the addendum the contract allows for cancellation if the amount exceeds $250.00.
Make sure you protect yourself when buying a home as is. You should be careful about giving up your right to inspect the home you are purchasing and you should negotiate with the seller the ability to cancel the contract if your inspections reveal major issues.
Related Florida real estate blog posts on home inspections
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