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When creating an as-is statement, it should be clear and specific. It should include language stating that the buyer understands they're purchasing the property in its current state. It also needs to say that the seller is not offering any guarantees or warranties about the property's condition.

"As is" language in a realty sales contract does not shield a seller or his agent from liability for affirmative or, as in this case, negative fraud. "Generally speaking, such a provision means that the buyer takes the property in the condition visible to or observable by him. [Citation.]

A warranty disclaimer ? also called an ?as is? disclaimer ? is a document or statement distributed to inform consumers that a business does not accept liability for issues with their product or services.

The purpose of an ?as is? clause and warranty disclaimer is generally to force the buyer to perform and rely upon its own due diligence investigations, rather than upon the seller's representations, in determining whether or not to purchase the property.

?As is? refers to a term used in sales contracts where the buyer agrees to buy a product in its current condition, without legal recourse should the buyer discover a defect in the product after purchase.

A purchase agreement is the final document used to transfer a property from the seller to the buyer, while a purchase and sale agreement specifies the terms of the transaction. Parties will sign a purchase agreement after both parties have complied with the terms of the purchase and sale agreement.