Document background
The As Is Purchase Agreement For Home is a specialized real estate contract used in Indonesia when a property is being sold in its existing condition without warranties or representations about its state. This document is particularly relevant in situations where the seller wishes to limit their liability for the property's condition, or when the property requires significant repairs or renovation. The agreement must comply with Indonesian property laws, including the Basic Agrarian Law (UU No. 5/1960) and relevant property registration regulations. It includes detailed descriptions of the property's current condition, known defects, and explicit acknowledgments from the buyer accepting these conditions. This type of agreement is commonly used in expedited sales, estate sales, or when selling distressed properties. The document provides protection for both parties by clearly documenting the nature of the transaction and the buyer's acceptance of the property's condition, while ensuring compliance with Indonesian legal requirements for property transfers.
