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

Beginner

Lease

A binding contract that details the terms of a rental arrangement, basically a detailed way to say 'pay me monthly or get out.'

🏠 Real Estate

Advanced

pocket commission

The extra compensation an agent receives when representing both buyer and seller, also called double-ending. Twice the work or twice the conflict of interest, depending on who you ask.

🏠 Real Estate

Advanced

usufruct

The legal right to use and enjoy someone else's property without owning it, common in Louisiana and community property states. It's basically borrowing a house legally and permanently.

🏠 Real Estate

Beginner

earnest money deposit

See earnest money, but longer and more official-sounding. Because real estate professionals get paid by the syllable.

🏠 Real Estate

Advanced

usable square footage

The actual floor space a tenant can occupy, excluding common areas like lobbies and hallways. In commercial leases, this differs from rentable square footage through a multiplier that ensures you pay for space you can't actually use.

🏠 Real Estate

Beginner

CMA

Comparative Market Analysis—a report comparing similar properties to determine a home's market value. It's like Zillow's estimate, except prepared by an actual human who might know what they're doing.

🏠 Real Estate

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