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It is being sold AS-IS, what is wrong with the place?

  • Question refers to 954 East Ave, Akron, OH 44307
  • February 19 2009
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Answers (2)

Denise is correct in that many properties being sold "as-is" happen to also be bank owned or short sales.  Here is the actual definition of "As-Is" according to BusinessDictionary.com:

"Term included in sale agreements to notify the buyer that no express or implied warranty is provided. The buyer therefore takes the goods or property at his or her own risk, without recourse against the seller for their condition or performance. 'As is' translates into 'with all faults.'"

By definition "As-Is" does not necessarily mean that anything is inherently wrong with the property also, as a buyer, one should always exercise due diligence to determine if there are any major issues with any given property.

  • March 10 2009
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I looked this property up in the MLS.  It is pending as of today, meaning there's a contract on it.  Usually "as-is" means bank owned, corporate owned, or short sale.  Hope that helps!

  • March 10 2009
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