As Is

As Is Definition

As Is is a term used in a real estate purchase contract meaning the purchase or sale of a property in its current condition without requiring the seller to add improvements, do repairs, or fix title defects.

“As Is” means that a property is sold in the same condition it was viewed and agreed on purchasing.

Explanation

When a home is listed and a broker refers to as-is sale, they refer to buying the property in the same condition the buyer viewed it with no repairs to be done, even if a loan requirement and or government official has requested it.

It means the buyer assumes the title of the property discussed in its current shape or condition without certain required items or with certain required items repaired to it.

 

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