What does As-Is Condition mean?

As-Is Condition refers to a property that is being sold in its current condition, without any warranties or guarantees from the seller. The buyer is aware of the property's condition at the time of purchase and is buying it "as is" without any promises of repairs or renovations. The buyer is responsible for any repairs or updates that may be needed after the purchase. This type of sale is often used for properties that are in need of repairs or are being sold at a discounted price.

Related Terms

Disability Insurance Pre-approval letter Lien Open Space Net Rentable Area Fair Housing Act Estoppel Certificate Fully-Serviced Lease Trustee Accessibility Setback Administrator's Deed Contemporary Style Alternative Mortgage Fully Amortized Adjustable-Rate Mortgage ARM Group Home Annual Percentage Rate (APR) Managed-Competition Lots