Q: I found a three-bedroom house, built in the 1970s, that I’d like to buy. The current homeowners are retiring to Florida. But the house is being sold "as is." What does that mean, exactly? I’m a little worried, because it smells musty.
A: "As is" clauses in sale contracts mean that sellers aren’t making guarantees as to a property’s condition, and aren’t going to make any repairs. That’s a buzz-kill to many buyers, who assume, rightly or wrongly, that something major is wrong with the house.
By June Fletcher, Feb. 26, 2010 WSJ
‘As Is,’ Clause for Caution – Take-It-or-Leave-It Language Makes Inspections Crucial
By Dan Rafter, Oct. 9, 2004, Washington Post