Dictionary of Business Terms: as is
as is
commercial term denoting agreement that buyer shall accept delivery of goods in the condition in which they are found on inspection prior to purchase, even if they are damaged or defective.
Dictionary of Real Estate Terms: as is
as is
without guarantees as to condition, as in a sale. Premises are accepted by a buyer or tenant as they are, including physical defects except latent defects.
Example: Baker purchases a building from Abel with the understanding that the building is to be conveyed as is. When Baker discovers that the roof leaks, Abel is not legally responsible for repairs.
