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Topical Terminology > "As-is"



1 Definition

"As-is"

For "As-is" we have a term and definition in Real Estate.



"As-is" (Real Estate)

Words in a contract intended to signify that no guarantees, whatsoever, are given regarding the subject property and that it is being purchased exactly as it is found. An "as-is" indicator is intended to be a disclaimer of warranties or representations. The recent trend in the courts to favor consumers tends to prevent sellers from using "as-is" wording in a contract to shield themselves from possible fraud charges brought on by neglecting to disclose material defects in the property.




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