Can a purchaser get out of an “as is” contract due to a discrepency in square footage?

We have a contract on our house and the closing is this week. However, the buyer appraisal says there are 200 less square feet than our appraisal and wants to pay $14,000 less than the contract states. It’s an as-is contract. Can we move forward?

Asked on July 9, 2012 under Real Estate Law, Florida

Answers:

Jonathan Pollard / Pollard LLC

Answered 8 years ago | Contributor

The fact that the contract is "as is" has nothing to do with the square footage.  If the property really is 200 square feet less than you originally represented to the buyer, that is a material fact and that likely provides them with sufficient justification to void the contract altogether. 


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