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Purchase agreements state that the property is sold in ?as is? condition. In the RPA-CA, for example, this exact language is found in paragraph 11. Is it necessary for the seller to include additional language in the purchase agreement to ensure that the property is sold ?as is?? No.

Outline the terms of the offer. Include the projected purchase price (including earnest money in escrow) for the transaction and any relevant sales or lease terms. Outline what you expect from both parties during the due diligence period between the acceptance of the LOI and the closing or lease signing.

At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.

"As Is" alerts a buyer in a sales contract that they accept the purchased item, be it real estate, animals, automobiles or appliances, in its present condition. It also assumes the buyer has a right to inspect the property first so they can assess any defects and make an informed decision.

Table of Contents Step 1: Give it an accurate name. Step 2: Mention all parties involved. Step 3: Describe your services or product with all rights, guarantees, and restrictions. Step 4: State the contract duration and make deadlines clear. Step 5: Include the price, services, payment conditions, and penalties.

As such, in most cases, the phrase ?as is? simply means that while the seller will not make any repairs or offer any credit, the purchaser still retains the right to either take the property the way it is or cancel after inspections.