what does as is where is mean in real estate
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What Does âAs-Isâ Mean in Real Estate Transactions? What Does “As-Is” Mean in Real Estate Transactions? Filed under: Real Estate Law . Whether you’re searching for a home for your family or shopping for an investment property, you’re likely to come across some advertisements describing real estate for sale in “as is” condition. Buyers often interpret this phrase in a casual way, assuming “as is” means the property needs cosmetic or structural improvements. Often this is a correct assumption, since “as is” real estate is usually distressed properties, foreclosed homes, or structures upon which construction was never completed.
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As is On the other hand, the phrase as is does not disclaim express warranties, such as those created by the seller's description of an item. In other words, the item may be sold as is, but if the item does not conform to the seller's description, the buyer has a right to reject it. For example, a seller of a used automobile sells his car to a buyer, and puts into the contract of sale the statement: The buyer accepts the automobile AS IS, WITH ALL FAULTS.. Two minutes after the buyer drives off with it, the engine seizes, and the car stalls.
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Real Estate & Mortgage Insights MLS stands for Multiple Listing Service. Basically, the MLS is a big property warehouse - sort of like a home depot.. When property is available for sale, it goes in the warehouse. When it is sold, it gets taken out of the warehouse. Since real estate cannot actually be stored in a warehouse, the MLS only contains information. So the MLS is actually a database - an extremely convenient way to know what is available for sale at a given moment. That is why real estate agents developed the MLS. Quick knowledge of home inventory made agents more productive.
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Real Estate Abbreviations Buyer Beware. There are a few real estate abbreviations or catch phrases that may stand for something you do not want. For instance: Close to or convenient to - Things are too close. Compact, cottage or modest - Very small. DIY or fixer-upper - A lot of work needs to be done. Efficiency kitchen - Barely room for one person.
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Real estate This article is about the business of buying, selling, and renting real property. For the legal concept, see real property. For the indie rock band, see Real Estate (band).
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Northern Germany This section covers the states of Hesse (Hessen), North Rhine-Westphalia (Nordrhein-Westfalen), Rhineland-Palatinate (Rheinland-Pfalz), Saarland, Saxony (Sachsen) and Thuringia (Th ringen).lso included is Oberstdorf, a mountain vacation town and ski holiday destination in the Bavarian Alps. The most extreme weather station on the list is Zugspitze at 2960 metres (9711 feet) elevation, near the top of Germany's highest peak.
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- “Active/Pending Short-Sale” would mean the real estate agent has an offer that is waiting for approval from the bank AND the agent is still showing the house, hoping for better offers. All short-sale offers must be approved by the bank.
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Real estate Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing.[1] It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, the United Kingdom, United States, Canada, Pakistan, Australia, and New Zealand.
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"Why is real estate called ""real estate""?" Real estate, when speaking of the ownership of land, refers to the land - not the improvements (house or structures on the land) and usually the land extends to the center of the earth and into space.
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Definition Of 'As Is' Home Sale Becomes Clearer With Each Case The term is common but few people understand its meaning. Technically, an ''as is'' sale means the property is being offered in its present condition with no warranties or representations by the seller or real estate agent.In other words, the seller won't pay for any repairs. What you see, or don't see, is what you get.he term is common but few people understand its meaning. Technically, an ''as is'' sale means the property is being offered in its present condition with no warranties or representations by the seller or real estate agent.
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"Buying a Used Car: What Does ""As-Is"" Mean?" As Is, No Warranty. The term as is is commonly used in the pre-owned car world to describe a car's warranty status. Specifically, some cars are offered as is, without a warranty; other cars include a warranty. In general, the term as is means that a certain car is available in the condition as it is on the lot.n fact, as is is usually used in conjunction with the term no warranty, just to be sure that the buyer knows he or she is buying a used car as it sits on the lot without any warranty coverage.
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Understanding Floridaâs As Is Residential Contract for Sale & Purchase of Real Estate If you do plan on buying or selling Florida real estate under these conditions, You can fill out your FR ASIS-1 with PDFfiller. We offer features such as eFax, eSignature, SendToSign, and collaboration option to make buying or selling with an “As Is” Residential Contract for Sale and Purchase as smooth as possible.
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Real Estate Terminology There are many abbreviations used in real estate listings, as well as a lot of terminology that is used only in New York City. Following is a guideline of real estate terminology used to rent, purchase or sell a property, as well as some financial and architectural terminology as it pertains to real estate.uyer's Broker A buyer's broker is a broker who represents the buyer in effectuating a purchase. Normally in residential real estate transactions, the buyer's broker shares the commission received by the listing broker, who represents the seller.
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What does âAS IS WHERE ISâ mean in real estate? Tagged With: arrears, as is where is basis, as-is where-is, definition of as is where is, Due Diligence, encumbrances, illegal occupants, liens, lis pendens, Real Estate Investing, real estate investors. Our Property Due Diligence Checklist will help you avoid problematic properties.
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Real Estate Appraiser Specializing in Commercial Industrial Residential Income Land & Single Family Residential Properties Existing or Proposed Construction Estate & Gift Tax Conservation Easements Partial Values Fractional Interests Former Senior Appraiser United States Treasury Department IRS Large Business and International Division California General Certified Real Estate Appraiser FHA Approved No value opinion can have meaning without first being defined. The intended use of an appraisal dictates which definition of market (or other) value is applicable to a specific assignment. Example: Market Value and fair market value are not the same thing.
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- What Does It Mean to Purchase Real Estate in “As Is” Condition? You may have seen ads in the newspaper: House For Sale in “As Is” condition. Do you know what this really means to you as a Buyer? In most cases this means that the Seller is not providing any type of warranty on the property.
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- Diana L. Collazos, Esq. The Blog. Understanding the Florida “As Is” Real Estate Contract. In Florida, there are two main types of real estate contracts: the Florida Association of Realtors (FAR) contract or Florida Association of Realtors/Florida Bar Association (FAR/BAR) contract, including the FAR/BAR “as is” contract.
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Invest In Real Estate, The Ultimate Hard Asset Invest In Real Estate, The Ultimate Hard Asset Owning income producing property through an IRA is one of many methods investors are using to create retirement income. Real estate is appealing to investors, partly because it takes a minimum down payment to acquire a whole lot of property, and because an IRA can be used to make the purchase. An IRA allows individuals to purchase real estate investments such as rental property or even properties intended for renovation and resale.
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as is A short sale is a real estate transaction for the purchase of a home before a bank forecloses on it. Short sales allow the owner of the home to sell the home below the market price and are subject to approval by the holder of the loan on the property. A short sale home often has the owners still ...
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As Is A term in a sales contract providing that the buyer agrees to take property, such as a house, horse, auto, or appliance in its present condition, without the right to complain if it is faulty. term in a sales contract providing that the buyer agrees to take property, such as a house, horse, auto, or appliance in its present condition, without the right to complain if it is faulty.
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as is A term used to describe a sales transaction in which the seller offers goods in their present, existing condition to prospective buyers. The term as is gives notice to buyers that they are taking a risk on the quality of the goods.
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As-is Law and Legal Definition As-is Law & Legal Definition. As-is is a term used in warranty law to disclaim the seller's liability for faults in the item sold.The buyer accepts the item in the present condition, whether the faults are apparent or not. As-is language clarifies that no written or verbal warranties were made to the buyer and is used to protect the seller.However, the seller cannot misrepresent the item or use fraud to induce the sale. In most states as-is home sellers are now required to disclose to their buyers all known defects in the residence.he buyer accepts the item in the present condition, whether the faults are apparent or not. As-is language clarifies that no written or verbal warranties were made to the buyer and is used to protect the seller. However, the seller cannot misrepresent the item or use fraud to induce the sale.
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real estate agent Definition of real estate agent. chiefly US. : a person in the business of selling land and buildings.
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Real estate Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing.. It is a legal term used in jurisdictions such as the United States, United Kingdom, Canada, India, Pakistan, Australia, and New Zealand.
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- as is a term used to describe a sales transaction in which the seller offers goods in their present existing condition to prospective buyers the term as is gives notice to buyers that they are taking a risk on the quality of the goodsthe buyer is free to inspect the goods before purchase but if any hidden defects are discovered after purchase the buyer has no recourse against the sellers is a term used to describe a sales transaction in which the seller offers goods in their present existing condition to prospective buyers the term as is gives notice to buyers that they are taking a risk on the quality of the goods
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Steve Jobs; Greatest Entrepreneur of the Era Now we will see why Steve Jobs titled the greatest entrepreneur of our era, and it will be done with identifying him by entrepreneurial characteristics. 1. Self-confidence and Optimistic: Steve Jobs, the man who brought you the Mac and iPod, was the optimist who realized the potential of Pixar early on.