What Is An AS IS Addendum Used in Real Estate Contracts?

The AS IS addendum is used in many real estate transactions these days, especially for bank owned homes and short sale transactions.

The Arizona Department of Real Estate (ADRE) has created the As Is addendum that accompanies the Arizona Purchase Contract. This addendum modifies some of the language of the Purchase Contract and notifies the buyers and seller that the home/property is being sold in "AS IS" condition and many of the warranties offered in the Purchase Contract are being waived. The video below goes over this addendum and provides a brief explanation of the document.

We hope this video will be of help to you.

Ron Urban & Gene Urban
The Urban Team at Realty Executives
602-234-5777

The commentary provided on this video is not intended as legal advice. If you have legal questions concerning an "AS IS" addendum or other aspects of real estate contracts, we recommend you contact a knowledgeable attorney.