Buying or Selling real estate in Utah? What does “As is” mean?
I was speaking with a friend who is selling a property in another state, and the home is currently under contract with a buyer. My friend told me that the home is part of an estate sale, and they sold the property in “As – is “condition. Despite this, the buyer is asking a dollar credit, or reduction in price to address items in the home found during the inspection. My friend was frustrated – she thought “As Is” meant “That’s it…we're done, take it or leave it.”
While my friend’s sale is occurring in another state, I was able to explain that in Utah, approximately 10 years ago, the standard Real Estate Purchase Contract (REPC) was changed to include “As – Is” language. This means,…
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