Commercial Property "as Is" ??
I recently made an offer on some commercial property that needs some work. The owner accepted it with a clause that he's selling "as is".
What are the implications of this? The building is not up to code.. it has no hardwired smokes, does this exempt him from needing it to sell?
-j
It means if you buy it, he is not on the hook if you discover additional problems. You should read that to say GET AN INSPECTOR in there to tell you all of the issues you will face before you accept his counter offer.
Best of luck, Dave
He is not going to fix any of the problems your inspections discover, but you should still make inspections, as Dave points out.
Regardless of his "as is" clause, you still have your inspection clauses. Once you have determined the cost of fix up figure out whether it still makes sense to you. In my opinion, you could still just offer a lower price to buy "as is." His clause doesn't obligate you in any way (depending on how its worded, of course).