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AS IS ADDENDUM
The Property is being sold AS IS, which means that the Property is being sold in its EXISTING
condition. Seller will make NO repairs under any circumstances, and will convey Property
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How to fill out as is addendum
How to fill out as is addendum
01
Start by gathering all the necessary information about the property you are creating the as is addendum for. This includes details about the current condition of the property, any known defects, and the specific areas or systems that are being addressed.
02
Clearly state the purpose of the as is addendum. This can include reasons such as disclosing known issues to potential buyers, establishing the buyer's understanding of the property's condition, or clarifying that the seller will not be responsible for any future repairs or maintenance.
03
List all the items or areas that are being addressed in the as is addendum. This can include structural components, appliances, fixtures, or any other relevant elements of the property.
04
Describe the current condition of each item or area. This can range from indicating that it is in good working condition to identifying specific defects or issues that may require attention.
05
Provide any necessary disclosures or warnings regarding the condition of the property. This can include potential hazards, known defects, or any other relevant information that the buyer should be aware of.
06
Include any additional terms or agreements related to the as is addendum. This can include details about the buyer's right to inspect the property, deadlines for resolving any disputes, or any other conditions that both parties need to agree upon.
07
Make sure to review the as is addendum carefully before signing it. This will help ensure that all the necessary information is accurately included and that both parties fully understand and agree to the terms outlined in the document.
08
Finally, have both parties sign and date the as is addendum to make it legally binding. Each party should retain a copy of the signed document for their records.
Who needs as is addendum?
01
Anyone involved in a real estate transaction can benefit from using an as is addendum. This typically includes both the seller and the buyer.
02
Sellers: Using an as is addendum allows sellers to disclose any known defects or issues with the property upfront. This can help protect sellers from potential legal claims or disputes in the future and provides transparency to potential buyers.
03
Buyers: Reviewing and signing an as is addendum allows buyers to have a clear understanding of the property's condition before finalizing the purchase. It helps buyers make informed decisions and can potentially save them from unexpected repair costs or future issues.
04
Real Estate Agents: Both listing agents and buyer's agents can benefit from using an as is addendum. It helps agents ensure that all relevant information about the property's condition is disclosed to their clients, facilitating a smoother transaction and reducing the risk of legal complications.
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What is as is addendum?
An as is addendum is a document that outlines any known defects or issues with a property being sold without any warranties.
Who is required to file as is addendum?
The seller of a property is required to file an as is addendum when selling a property in its current condition.
How to fill out as is addendum?
To fill out an as is addendum, the seller must list any known issues with the property and present it to the buyer for review.
What is the purpose of as is addendum?
The purpose of an as is addendum is to inform the buyer of any defects or issues with the property and to protect the seller from future liability.
What information must be reported on as is addendum?
The as is addendum must include a list of any known defects or issues with the property, as well as any disclosures required by law.
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