Starting to use the calculators and crunching numbers, but have come across a listing that had this in the description:
"Property Sold As-Is with no warranties expressed or implied. Listing
information is not warranted by seller or seller's agent, and any and
all information to the condition of the property is unknown. Buyer and
buyer's agent must do all their own due diligence to the condition of
the property and to all information pertaining to this property. Buyer
and buyer's agent must verify all utilities, square footage, flood plain
and any additional information regarding the property. CLOSING TO BE
PERFORMED BY AGILITY CLOSING & TITLE SERVICES."
Could someone break this down for me on what it means? Is this not even worth continuing to analyze? I'm just practicing with numbers right now but in the future what would some deal breakers be to save me time from even going forward with them?
Hi @Jackie Comitino . I wouldn't run away off the bat because of this description. Assuming it's bank owned or something similar, this is standard language they are including to cover their butts. All of the information it is saying is the responsibility of the buyer to verify is something the buyer should be doing for their own benefit anyway during the due diligence process.
This could be an indication that closing may be a little bit more cumbersome because if utilities are off, it would be the buyers responsibility to have them turned on for inspection etc. but this listing shouldn't take it out of the running. Just do your research and good luck!
@Lauren C. thank you!
@Jackie Comitino I agree with Lauren. Don’t let that language scare you, especially if you’re just running numbers.