FAR BAR As-Is Series: Part I
As promised, this is going to start off a short series on the FAR BAR As-Is Contract. I was feeling bad about how long it has taken me to get a new post on here, but it turned out for the best. Last week I gave a short little presentation on the As-Is to a group of investors at the Leverage Connections Network Meeting and the questions from the attendees were fantastic. Their questions made me more aware of what content will be helpful for newbie investors – and some more experienced ones who may have gotten a little lazy. Sorry, truth hurts. Before we get into the terms of the contract let’s first have a quick little discussion about what using an As-Is Contract means. An As-Is offer means the buyer accepts the property in its current As-Is physical condition. That means if the house has a bad roof buyer accepts the responsibility of that roof. It does not mean buyer accepts the fact that there is an open roof permit pulled to fix the roof or that there is a code lien on the p