AS-IS contract vs Traditional Sales Contract - Florida Real Estate

Every real estate contract is different, and it's important to know these differences before signing on the the dotted line.
Most contracts are written by a team of attorneys in your local area. Whether you are the buyer or the seller, you are meant to have protection. HOWEVER, in this fast moving market, it can be tricky.
An AS-IS contract is basically "what you see is what you get". The seller is not required to fix anything before closing. During the due diligence period, inspections can be performed. If the buyer no longer wants the home (for whatever reason) they can back out of the contract without losing their escrow. In Florida, the due - diligence time period is typically 15 days.
A traditional Sales Contract is very different and can be more costly to all parties. The seller is liable to fix any defective items in the home that the buyer elects from the inspection period. If the buyer wants to back out of the contract (for whatever reason) they are at risk of losing their escrow money.
Both contracts are legally binding, and all parties should comply with their given responsibilities. Property sales are not to be taken lightly, as they can get complicated, costly, and confusing.
If you are going to buy or sell property, it would be wise to gather a team of skillful realtors, title companies, attorneys, and mortgage providers, in an effort to avoid any unnecessary doubt.
If you have any questions about the market or the home purchasing process, please reach out! I would love to connect.
Thanks for watching, see you soon!
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