“As-Is” is the wording in a contract signifying that no guarantees are given regarding the subject property and that it is being sold in it’s current condition, with no repairs to be made. The use of the phrase “as-is” in a listing usually indicates the property is an REO or bank-owned sale. These sales are distressed and usually sell below the normal market value of the home; therefore they do not make good comparables in a BPO. The “as-is-value” in a BPO refers to the current value to the property if no repairs or improvements are made.

Definition of As Is

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