An As Is House Sale Contract is utilized when selling residential property without providing warranties about its condition beyond those required by law. This contract type is particularly relevant in England and Wales, where it provides protection for sellers while ensuring buyers understand they are purchasing the property in its existing state. The document typically includes detailed property information, price, payment terms, and explicit acknowledgment from the buyer about accepting the property's current condition. It's commonly used for properties requiring renovation, distressed sales, or when sellers wish to limit their post-sale liability.
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1. Parties: Identification and details of seller and buyer
2. Background: Context of the sale and property description
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of property including address and title number
5. Purchase Price: Amount and payment terms
6. As Is Provisions: Explicit statement of as-is condition and buyer acknowledgment
7. Completion: Completion date and process
8. Title Guarantee: Limited title guarantee provisions
1. Deposit Terms: Details of deposit amount, payment terms and conditions - used when a deposit is part of the transaction
2. Vacant Possession: Terms and conditions for property handover and current occupancy status - used when property is currently occupied
3. Fixtures and Fittings: Detailed provisions regarding included and excluded items - used when specific items need to be detailed
1. Property Plan: Official plan showing property boundaries and relevant features
2. Title Documents: Copies of relevant title documents and registers
3. Property Information Form: Standard form containing detailed property information and disclosures
4. Fixtures and Fittings List: Comprehensive inventory of items included in or excluded from the sale
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