SHORT SALE: Buyer Waiver of Claims Clause

[QuestN4u]

What is the name of your state (only U.S. law)? FLORIDA.

Hi. We would like to know if it is customary - and acceptable -for a buyer of an AS IS Short Sale to delete the Buyer Waiver of Claims Clause. We are in the process of purchasing a 20-year old home. Although we are arranging an inspection, we are concerned that there may be defects in the house that may not surface during an inspection and/ or are not readily visible. Therefore, if we delete this clause then we could hold the seller and realtor(s) liable and accountable for any defects that later crop up. Our realtor refuses to delete this clause. What is another option (other than leaving this claim in place) that would appease our realtor and ourselves? We really want to buy this home and protect our investment.

 

[justalayman]

customary is irrelevant.

acceptable or not is up to the parties of the contract. If the seller will not sell unless you waive it, then you don't get to buy the property. It isn't really your choice.

We really want to buy this home and protect our investment.

real inspections by real inspectors, or even engineers if needed, that will stand behind their statements. Many inspection companies limit their liability to the cost of the inspection or some other BS act to make their inspection basically worthless.

I suspect that even if you signed the waiver, it would not relieve the seller of liability of an intentional act to hide a defect. If it is not clear, I would ask the verbiage be altered to reflect that still. There should be no problem with the seller agreeing to not be released from an intentional act to deceive.

Mind you, that is still not going to cover hidden defects but honestly, a hidden defect would not allow you any recourse unless the seller knew, or should have known, of the defect and failed to disclose it anyway.

 

[nextwife]

If you do your due diligence as if the seller were deceased or had dementia or were terminally ill with no assets, and you had no ability to obtain or rely on disclosures, and still feel comfortable buying the home, do so presuming there may very well be some surprises. That is always my approach (actually my current home was bought from a guardian for an Alzheimers patient and I would have had no recourse). If you'd buy even if there were NO ability to get dislclosures, then buy the house and live with your decision.

 

[ecmst12]

There WILL be some surprises, no "may" about it. There are ALWAYS surprises in home ownership. Some are bigger than others.

 

[QuestN4u]

Thank you all for your insights!