Does “as is” really mean “as is”?
“As is” really means the seller is offering a piece of real property with no warranties as to its quality. Buyers can assume that the property has some issues that the seller expects to factor into the initial purchase price without facing further negotiation or demands for repairs. Sellers trying to evade liability by selling their home “as is” should be careful, however. Many states have legislation to preclude a seller from completely passing the buck on certain issues such as environmental cleanup, hazardous waste disposal, or dealing with other dangerous known conditions. The law sometimes requires mandatory disclosure of defective conditions or problems with property, a legal norm common to other types of sales contracts. For example, a seller would likely be found liable if it sold a commercial property to a buyer and failed to disclose its knowledge that the foundation was buckling.