Question: What does "AS IS" mean in Real Estate? Hello, I have recently started house hunting. I found a place online I would like to look at but I noticed it said this home is "AS IS" does that mean that there is a problem with the home that the seller is aware of but does not want to fix? Thanks!

Answer: "As is" means don't ask the seller to make improvements.  For example, a normal house for sale may have old worn carpet.  The buyer can negotiate the seller to replace the carpet OR give the buyer a credit for the price of replacing the carpet.  In normal house sales, negotiations like this take place all the time.\n\nWith an "as is" property, the seller is full aware of the things wrong with the house and they do not intend to fix them.  They can be minor things like worn carpet or old paint, but they can also be major things like an old roof or substandard plumbing.  They don't want you to go into the offer expecting to negotiate.  Does that make sense?
This question from the Yahoo Q&A forum is categorized in the topic: Society & Culture