What is the definition of an "as is" residential real estate purchase in Delaware?
Question Details: My husband and I purchased a foreclosed property from a bank. The property was sold "as is". When we viewed the property, there were warnings on all of the toilets and sinks that the property had been winterized.
After settlement last week, our plumber found that nearly every pipe in the house leaked, replacement of which is difficult and expensive.
What are our options at this point?
"As is" means that you take the property as it is with no warranties. You will have to pay for the replacement of the pipes.
This is why it is advisable to have the property inspected (if possible) before you purchase it.
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