A Quick Contract Question
I just sign a contract and the realtor gave me a side bar as to a clause in the contract. It states, "Buyer agrees to assume responsibility for all violations, to repaired at the Buyer's own expense."
I am buying the house "As Is" and considerablly under market value and there are no violations listed for the property. Why would the realtor suggest I look at that clause? 
Lets say you plan to rent it and the city comes in and says you have to do $5000 in repairs before it can be rented. This could significantly hurt you depending on the situation.
I'm not an expert in this area but I would not allow an extra phrase like that because it shows to me that the seller thinks he has a reason to protect himself.
I don't know if the seller has anything to hide but the clause does look a little suspucious. Then again, the name of the game is CYA (Cover Your Ass). He doesn't want something coming back at him known or unkown.
I don't know if you have structural inspections done where you are, but I would not buy a house without one.
99.9% of the time they find problems that you should be aware of BEFORE you buy. Many times it results in the seller fixing problems before you buy the house or giving you a credit at closing. These credits and repairs usually average twice what you would pay for the inspection.
AND when you buy the house you really know what you are getting!!!
Jim
Thanks for your comments and suggestions. I will look into it a little closer.
Kecia
Typical CYA clause.