As-is-where-is

As-is-where-is — the sale basis for foreclosed and acquired-asset properties: the seller warrants nothing, and every problem — title defects, HOA and RPT arrears, physical condition, occupants who won’t leave — transfers to the buyer at sale. It is the legal phrase that converts the foreclosure discount from free money into paid work: the price is lower precisely because the diligence, the arrears negotiation, and the possession problem are now yours. Read it as the entire risk model, not boilerplate.

First used in: 3.6 · Foreclosures end-to-end