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AS IS Residential Contract For Sale And Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR 1 2 3 4 5 6 7 8 9 Owner of record PARTIES: (Sell r”), Buyer(s) name and (“Buyer”),

How to fill out as is residential contract

How to fill out an as-is residential contract:

1. Begin by obtaining a copy of the as-is residential contract form. These forms can typically be found online or through your local real estate association.
2. Review the entire contract to familiarize yourself with its terms and conditions. Pay close attention to sections related to property condition, seller disclosures, and any specific provisions that need to be addressed.
3. Complete the header section of the contract, which typically requires the names and contact information of both the buyer and the seller. Ensure that all information is accurate and up-to-date.
4. Proceed to the property description section. This involves providing details about the property being sold, such as the address, legal description, and any other identifying information.
5. Address the purchase price and financial terms of the transaction. Indicate the agreed-upon purchase price and specify whether there will be any additional financing or contingencies involved.
6. Include any relevant seller disclosures. The as-is contract often requires the seller to disclose any known defects or issues with the property. Make sure all necessary disclosures are accurately documented.
7. Specify the closing and possession dates. Determine when the transfer of title will occur and when the buyer will be allowed to take possession of the property.
8. Make note of any additional provisions or addendums that may be required. For instance, if the buyer wants to include a home inspection contingency, this should be detailed in a separate addendum attached to the contract.
9. Sign and date the contract. Both the buyer and the seller should sign and date the contract to indicate their agreement and acceptance of its terms.
10. Keep a copy of the fully executed contract for your records, and provide copies to all parties involved in the transaction.

Who needs an as-is residential contract?

1. Buyers and sellers of residential properties who want to establish that the property is being sold in its current condition, without any guarantees or warranties from the seller, may need an as-is residential contract.
2. Real estate investors who often acquire properties in distressed or dilapidated conditions may use as-is contracts to minimize their liability and ensure that they are fully aware of the property's condition before closing.
3. Homeowners selling their property on their own without a real estate agent might use an as-is residential contract to facilitate the transaction and clearly define the terms of the sale.

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What is as is residential contract?

An as is residential contract is a legal document used in real estate transactions where the property is sold in its current condition without any guarantees or warranties from the seller.

Who is required to file as is residential contract?

Typically, the seller of the property is required to fill out and file the as is residential contract.

How to fill out as is residential contract?

To fill out an as is residential contract, the seller needs to provide details about the property, any known defects, and other terms of the sale, as well as signatures from both parties.

What is the purpose of as is residential contract?

The purpose of an as is residential contract is to protect the seller from liability for any unknown issues with the property after the sale is completed.

What information must be reported on as is residential contract?

The as is residential contract must include details about the property, any disclosures about defects or issues, the agreed-upon purchase price, and the terms of the sale.