The Really Bad News is that the Texas Real Estate Commission hates Texas consumers and home buyers and has rewritten the most used contract in the State of Texas, Form 20-12, the One to Four Family Residential Contract.
The Good News is that you don't have to take it lying down. You can fight the "AS IS" Texas Real Estate Contract.
If you are reading this and you have not yet bought a home and or encountered this new "AS IS" language, you can do the following:
1. You can strike out the "AS IS" language. Just draw a line through it. Put your initials on it. And offer it back to the seller. If you real estate agents says you can not do that, you should fire him or her immediately. You can do that. Tell your agent to read my blogs on this subject.
2. If someone offers you something "AS IS", you immediately know it is not worth market value. There is something wrong with it. It must be worth less money. So offer less money and tell them since you are selling this "AS IS", naturally I am not going to pay market value for it. This, of course, will allow you to have this removed from the contract.
3. You can get a lawyer or write your own contract to exclude this ridiculous clause.