What is the definition of an “as is” residential real estate purchase in Delaware?
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What is the definition of an “as is” residential real estate purchase in Delaware?
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?
Asked on June 1, 2009 under Real Estate Law, Delaware
Answers:
N. K., Member, Iowa and Illinois Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
"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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