If you are moving from another state, chances are that “As Is” has a different meaning that in Louisiana. In New Orleans real estate, we use the term As Is with Waiver of Redhibition, and it can cause concern for folks relocating here that believe they can’t do inspections or ask for repairs. Nothing could be further from the truth.
Redhibition Defined (by LSU Law):
Article 25209 lays down the basic rule when it provides that
redhibition is the avoidance of a sale on account of some vice or
defect in the thing sold which renders it either absolutely useless,
or its use so inconvenient and imperfect, that it must be supposed
that the buyer would not have purchased it had he known of the
vice. If at the time of the sale the defects were apparent the
buyer may be considered at fault for not having discovered them,
or willing to take them with the defects. Consequently Article
252110 provides that redhibiton will not lie for apparent defects,
such as the buyer might have discovered by simple inspection.
What does this mean?
It means that after the buyer does any and all inspections they want to do during the inspection period, at the act of sale they are agreeing to take the property in it’s current condition and waiving any rights to sue the seller for defects discovered after the closing.
The only caveat to the waiver is, in the event of fraud by the seller by hiding a known defect that would have caused the purchaser to not move forward with a sale, the buyer still has legal recourse.
Need more advice on the ins and outs of Louisiana real estate? Let us know how we can help guide you through the home buying or selling process.
Call Crescent City Living at 504-327-5303 or contact us here.