Definition
An "as-is" sale means you accept the property in its current condition with no repairs from the seller. However, the seller still must disclose known problems.
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Find my pathAbout this term
'As-is' sales mean the buyer accepts the property with all known and unknown defects. While 'as-is' clauses protect sellers from repair obligations, they do not eliminate the seller's duty to disclose known material facts. An 'as-is' sale shifts risk to the buyer, which is why inspection contingencies are critically important. 'As-is' is especially common in foreclosure sales, bank-owned properties, and between experienced investors.
Pro Tip
In as-is sales, thorough inspection is crucial—you assume all unknown risks.
Example
The property was sold 'as-is' with no seller repairs, but the seller still had to disclose known problems.