The As Is Real Estate Contract is utilized when parties wish to conduct a property transaction where the buyer accepts all responsibility for the property's condition. This document is particularly relevant in England and Wales, where it provides a clear framework for property sales without warranties. It includes specific provisions about the property's current state, price, completion details, and explicitly states that the buyer has inspected the property and accepts it in its present condition. This type of contract is especially common in auction sales, distressed property transactions, or when selling properties requiring significant renovation.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Context of the sale and property overview
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed legal description of the property including title number
5. Purchase Price: Amount and payment terms
6. As Is Clause: Explicit statement that property is sold in current condition
7. Completion Date: Date for completion of the sale
8. Title Matters: Details of title transfer and registration
1. Deposit Terms: Details of deposit if required - use when deposit is part of the transaction
2. Fixtures and Fittings: List of items included/excluded from sale - use when specific items need to be addressed
3. Break Clause: Conditions for terminating the contract - use when parties want flexibility to terminate
1. Property Plan: Official plan showing property boundaries
2. Title Documents: Copies of relevant title documents
3. Property Information Form: Standard form disclosing property information
4. Fixtures and Fittings List: Detailed inventory of included/excluded items
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