Real Estate Glossary

"As-Is" is a term that is often used in real estate transactions to indicate that a property is being sold in its current condition, without any warranties or guarantees from the seller. When a property is sold "As-Is," the buyer is aware that the property may have defects or issues, and that the seller will not be responsible for making any repairs or improvements.

When a property is sold as-is, it means that the seller will not be making any repairs or addressing any issues that may be present in the home. Therefore, it is crucial for the buyers to conduct a thorough inspection of the property and be aware of any potential defects or issues before purchasing it.

It is important to note that an "As-Is" sale does not release the seller from disclosing any known material defects per state laws or regulations. Even though the seller is not obliged to fix or repair anything, they have the legal obligation to disclose the property's condition truthfully.

In summary, "As-Is" is a term that indicates that a property is being sold in its current condition, without any warranties or guarantees from the seller. This means that the buyer should be aware that the property may have defects or issues and that the seller will not be responsible for making any repairs or improvements. Therefore, it is essential for buyers to conduct a thorough inspection before purchasing an "As-Is" property.