Copy And Paste In Legal Louisiana Option To Purchase Forms For Free

?As is? refers to a term used in sales contracts where the buyer agrees to buy a product in its current condition, without legal recourse should the buyer discover a defect in the product after purchase.

An offer is a written proposal to buy a property with conditions baked in. The buyer's agent helps to write it up and delivers it to the seller's agent. Purchase agreements are an actual agreement between the buyer and the seller also sometimes called a real estate contract.

"As is" language in a realty sales contract does not shield a seller or his agent from liability for affirmative or, as in this case, negative fraud. "Generally speaking, such a provision means that the buyer takes the property in the condition visible to or observable by him. [Citation.]

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.

When creating an as-is statement, it should be clear and specific. It should include language stating that the buyer understands they're purchasing the property in its current state. It also needs to say that the seller is not offering any guarantees or warranties about the property's condition.

The purpose of an ?as is? clause and warranty disclaimer is generally to force the buyer to perform and rely upon its own due diligence investigations, rather than upon the seller's representations, in determining whether or not to purchase the property.