Sale As Is Form With Clause
Description
How to fill out California Bill Of Sale Of Automobile And Odometer Statement For As-Is Sale?
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FAQ
What is An As-Is Clause? An 'As-Is' clause is a type of contact clause used in a real estate agreement. It's effectively a disclaimer that tells the buyer they are purchasing a real estate property under their own judgment, and not based on the representation or statement of the seller.
Proposed clause: The Seller is selling this property in ?As Is? condition. Buyer acknowledges and agrees that Buyer is accepting the Property ?As Is? without any warranties, representations or guarantees, either expressed or implied, of any kind, nature or type whatsoever from or on behalf of the Seller.
"As is" denotes that the seller is selling, and the buyer is buying an item in whatever condition it presently exists, and that the buyer is accepting the item "with all faults", whether or not immediately apparent.
"As Is" alerts a buyer in a sales contract that they accept the purchased item, be it real estate, animals, automobiles or appliances, in its present condition. It also assumes the buyer has a right to inspect the property first so they can assess any defects and make an informed decision.
The purpose of an ?as is? clause and warranty disclaimer is generally to force the buyer to perform and rely upon its own due diligence investigations, rather than upon the seller's representations, in determining whether or not to purchase the property.