A term commonly used in agreements for the purchase and sale of real or personal property ( www.practicallaw.com/9-382-3689) to inform the buyer that the property is being sold:
In its current condition.
With any existing faults.
Without representations or warranties ( www.practicallaw.com/8-382-3760) from the seller.
In an "as-is" transaction, the buyer is typically given the right to inspect the property during a due diligence period ( www.practicallaw.com/w-000-8891) before deciding whether to purchase it.