Homeowners often believe an “as-is” sale means the buyer is not permitted to cancel the contract due to property condition. This confuses as-is with the inspection contingency. The vast majority of “as-is” sales – to the contrary – expressly allow the buyer to cancel after inspecting. The inspection contingency contract clause allows the buyer time to “inspect” the premises. The buyer may cancel during this period without violating the contract.
infographic by: www.househeroes.com