As Is Real Estate Contract Form Template for the United States

An As Is Real Estate Contract Form allows you to buy or sell property in its current condition without requiring the seller to make repairs or improvements before closing. Under United States federal law, this type of contract provides important protections for both parties while establishing clear expectations about the property's condition and the terms of sale.

When do you need this document?

You'll need an As Is Real Estate Contract when purchasing distressed properties, foreclosed homes, or estate sales where extensive repairs may be required. This contract is also essential when you're selling inherited property and want to avoid the cost and time of making improvements, or when you're an investor looking to flip properties and prefer to handle renovations yourself. Many sellers choose this approach during divorce proceedings or financial hardship situations where they need to sell quickly without additional investment in the property.

Key legal considerations

The most critical element of any As Is contract is the condition disclosure clause, which must clearly state that you're accepting the property with all existing defects and problems. Even in As Is sales, sellers cannot hide known major defects or safety hazards, and buyers should still conduct thorough inspections before finalizing the purchase. The contract must specify exactly what fixtures, appliances, and systems are included in the sale, as these items are also sold in their current condition. Payment terms and closing procedures require careful attention, as financing may be more challenging for properties needing significant repairs, and you may need to arrange for cash purchases or specialized renovation loans.

Legal requirements in United States

Federal law under RESPA requires detailed disclosure of all closing costs and settlement procedures, while TILA mandates clear disclosure of any financing terms and credit costs. The Lead-Based Paint Hazard Reduction Act requires sellers to provide lead-based paint disclosures for properties built before 1978, regardless of the As Is nature of the sale. The Fair Housing Act ensures that As Is sales cannot be used to discriminate against protected classes of buyers. Additionally, most states require property condition disclosures even in As Is transactions, meaning sellers must still reveal known defects, environmental hazards, or structural problems. Title insurance and property surveys remain important protections for buyers, as these help identify potential ownership issues or boundary disputes that the As Is clause doesn't address.