When you begin signing the documents for your New Orleans purchase agreement (aka the contract that says you’re buying the house), you will also have to sign what is called a Waiver of Redhibition. This waiver is also known as the “As-Is clause.” What does “as is” mean?
In the state of Louisiana, you are buying the house “as is”, in its current condition.
Does this mean I can’t have home inspections?
Nope! On the contrary, after you have inspections done on your New Orleans home you then negotiate again for any repairs, price reductions, or anything else.
Sooooo….. then why is it called “As Is”?
If the seller has agreed to make repairs, you will take possession of the house after these repairs are made. The day you sign your closing documents and get the keys – from that moment you have agreed to take the home with its warts and all.
What if the seller lied about a defect and we find it later?
This waiver of redhibition does not allow the seller to lie about the condition of the house. If the seller was to defraud you, you still have legal recourse.
Also, if the home seller agreed to make repairs, will have a reinspection done of the property to ensure it was completed.
Heads up! You will sign a Waiver of Redhibition, the “As-Is clause” is written into your contract, *and* you will sign another one at the closing table.
If this has you worried at all, let me take a moment to soothe your concerns. We will have extensive home inspections done so that you can move forward with all the possible information we can obtain.
Go ahead and put down the notion that shouldn’t look at a house because the description says the house is “as is.” Because now you know, they all are!
Ready to start your home buying journey? Drop your info to us below. or TEXT US!