Realtor listing conditions

[PTOC]

Hello everyone,

My husband and I were looking at Mls, came across a listing we are interested in and saw this condition posted by the realtor


No Representations Or Warranties Are Made Of Any Kind By The Seller Or Agent In Regards To This Property. All Information Displayed Is Believed To Be Accurate But Is Not Warranted And Should Be Independently Verified. ""In As Is Condition""

does anyone know what this condition means and why they would post the condition on the listing?

any information will be helpful.

Thanks

[BornRuff]

They are essentially saying "This is what we have been told about the property by the owner, but don't blame us if it's wrong. Also don't hold us responsible for any problems with the property. Do your own inspection."

[krozet]

So this is why you get an inspection before you purchase the home.

[Anonymouse]

It means you walk away, because there is something wrong with the house and they don't want to be held accountable for it when you inevitably discover it.

[PTOC]

so its not a condition that they post because it could be a grow op or even a foreclosure?? its pretty much used to "cover their asses" right?

[M08006899]

Is it a power of sale? Those are really the only ones where I see that...

[PTOC]

I'm not sure. I'm hoping its a condition they use to 'cover their ass" and i'm hoping its not a grow op. I sent an email to my agent to find out the history of the property so we'll see.

[stealth]

so its not a condition that they post because it could be a grow op or even a foreclosure?? its pretty much used to "cover their asses" right?

It could be to cover their asses for ANYTHING or NOTHING (just a standard disclaimer they put on every listing just in case).
Ask the agent if theres any reason for this regarding this listing and see what they say.

[BornRuff]

so its not a condition that they post because it could be a grow op or even a foreclosure?? its pretty much used to "cover their asses" right?

Ya, as others said, it theoretically could mean it might be a grow op, but it really is there for absolutely anything that could be wrong. It doesn't mean they know something is wrong, it's a standard thing they would put on all their things just to cover their asses.

[l69norm]

Is it a power of sale? Those are really the only ones where I see that...

+1, the listing has the standard wording for "Power of Sale" (in Ontario) . It means the bank is selling the house on behalf of the owner (i.e. forced sale). The bank can't (doesn't want to) verify anything so they have a special out clause in the purchase agreement

Also, the out clause is there because there special rules (laws) governing a "Power of Sale" that the bank has to follow. For example, the bank can unilaterially cancel the purchase agreement right up to the closing day if the original owner suddenly comes up with some money

[KK_120]

It is usually a disclaimer and like others have said, it can cover everything to nothing. Usually it's there to cover themselves (so if anything is wrong and/or not to your liking it's not their fault).

[-=phelan=-]

grow op.

if you buy that house you'll pretty much have to smash it down and rebuild it from ground zero, no telling what they did in there as a grow op

[bail42]

Hello everyone,

My husband and I were looking at Mls, came across a listing we are interested in and saw this condition posted by the realtor


No Representations Or Warranties Are Made Of Any Kind By The Seller Or Agent In Regards To This Property. All Information Displayed Is Believed To Be Accurate But Is Not Warranted And Should Be Independently Verified. ""In As Is Condition""

does anyone know what this condition means and why they would post the condition on the listing?

any information will be helpful.

Thanks

The first part is pretty standard, from my understanding. The idea is that you can't buy the house without seeing it and then say "the bedroom is actually 10x10 not 10x11". The as-in condition would defintiely scare me, though!

[t3359]

I think it's a typical clause they include (haven't checked other offers I've seen). If you're worried about it being a grow-op, you can list it as a condition in your offer (and the seller will have to reply "to the best of our knowledge...").

I'm now wondering if it's possible to put in the offer that the seller has to list everything they consider major problems as a condition for sale...

bjl

[mmhassa2]

It means you walk away, because there is something wrong with the house and they don't want to be held accountable for it when you inevitably discover it.

Not true at all...see the post below

+1, the listing has the standard wording for "Power of Sale" (in Ontario) . It means the bank is selling the house on behalf of the owner (i.e. forced sale). The bank can't (doesn't want to) verify anything so they have a special out clause in the purchase agreement

Also, the out clause is there because there special rules (laws) governing a "Power of Sale" that the bank has to follow. For example, the bank can unilaterially cancel the purchase agreement right up to the closing day if the original owner suddenly comes up with some money

This is mostly likely the case...We had similar wording on our house as it was a Power of Sale but in good condition (just bad taste in decoration) lol

grow op.

if you buy that house you'll pretty much have to smash it down and rebuild it from ground zero, no telling what they did in there as a grow op

Again read the above posters explanation...just because the house is listed as-is does not mean its a grow up or something wrong with the house.