I polled a group of about 100 FL Realtors on which residential real estate contract is better for Buyers or Sellers, the "As-Is" Contract or the Repair Limit contract. The answers are in this week's Crushing Debt Podcast!
I regularly speak at BABA (Become A Better Agent) for Insured Title Company. The last time I spoke, we debated the pros and cons of the two versions of the Florida Real Estate Contract in use by most FL Realtors.
The "As-Is" contract gives the buyer the right to cancel the contract after doing inspections, if the Buyer finds that the property is not acceptable.
The "Repair Limit" contract allows the seller to fix the property up to a certain repair limit. If the repairs exceed that limit, either party can cancel the contract, or the Buyer can agree to make repairs in excess of the dollar repair limit.
Which do you think is better for Sellers? Which do you think is better for Buyers?