As-Is

Definition

The seller's polite way of saying "we know it's broken and we don't care." Buying a property as-is is basically adopting a feral house and hoping love alone can fix the plumbing.

Example Usage

"The listing said as-is, which I assumed meant rustic charm. Turns out it meant the roof identifies as a suggestion." - A regretful first-time buyer

Related Terms

Intermediate

chain of title

The complete history of ownership transfers for a property from the original owner to the present. It's basically a property's family tree, except instead of embarrassing relatives, you're looking for liens and legal issues.

🏠 Real Estate

Beginner

contingent financing clause

A contract provision allowing buyers to back out if they can't secure a loan, essentially making the deal conditional on a bank's approval. It's the escape hatch that makes sellers nervous and buyers sleep better at night.

🏠 Real Estate

Intermediate

tenant improvement allowance

Money the landlord provides for the tenant to customize leased space, typically in commercial properties. It's the 'make yourself at home' budget that determines whether you get new carpet or get to keep the previous tenant's questionable design choices.

🏠 Real Estate

Intermediate

dual agency

When one agent represents both buyer and seller in the same transaction, creating a conflict of interest wrapped in a commission opportunity. It's like having the same lawyer represent both parties in a divorce.

🏠 Real Estate

Intermediate

liens

A legal claim on someone's property that says 'you owe me money, and I'm holding this hostage until you pay up.' These financial handcuffs ensure creditors get paid before you can sell or refinance. Think of it as a sticky note from the law that won't come off until the debt is settled.

🏠 Real Estate

Advanced

phantom rent

The theoretical rental income from a vacant unit that's factored into pro forma projections but not actually being collected. It's the imaginary money that makes cap rates look better on paper than they are in reality.

🏠 Real Estate

Translate This Term

See “As-Is” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

Try the Translator

Share This Term

Post on X Share on Facebook Share on LinkedIn

Discover a Term

Intermediate

influencer rate card

A menu of prices influencers charge for various types of content and promotions, from Instagram stories to YouTube integ...