Ontario Real Estate And Development Industry Hires And Promotions: September

As-Is Sale

Understand what an as-is sale means in Canadian real estate, what buyers should expect, and how to protect yourself during the transaction.

As-Is Sale

May 22, 2025


What is an As-Is Sale?

An as-is sale is a real estate transaction in which the property is sold in its current condition, with no obligation on the seller to make repairs or offer warranties.

Why As-Is Sales Matter in Real Estate

In Canadian real estate, as-is sales are common for estate properties, distressed homes, or when sellers want to avoid the cost or liability of fixing issues before closing.

Key characteristics of as-is sales include:
  • No repairs by the seller before closing
  • Buyer assumes responsibility for defects
  • Property is typically priced lower to reflect condition
Buyers are encouraged to conduct thorough inspections and due diligence, as material latent defects must still be disclosed by law. Waiving inspection in an as-is sale increases risk significantly.
Understanding the implications of an as-is clause helps buyers negotiate effectively and avoid unexpected renovation costs or legal issues.

Example of an As-Is Sale

A seller lists their property as-is for $620,000 due to outdated plumbing and roof issues. The buyer completes a home inspection and adjusts their offer accordingly.

Key Takeaways

  • Property sold without repairs or warranties.
  • Buyer accepts all visible and hidden flaws.
  • Common in estate and distressed sales.
  • Inspection still highly recommended.
  • Lower price typically reflects condition.

Related Terms

  • Material Latent Defect
  • Home Inspection
  • Seller Disclosure Statement
  • Distressed Property
  • Buyer Beware

Additional Terms

Blight

Blight refers to the deterioration, neglect, and disrepair of properties or neighborhoods that cause economic decline and reduce livability. Blighted. more

Community Land Trust (CLT)

A community land trust (CLT) is a non-profit organization that owns land to preserve long-term housing affordability. Homes are sold or rented at. more

Co-Housing Community

A co-housing community is a residential model where individuals or families live in private homes but share common facilities such as kitchens,. more

Chain of Title

Chain of title is the chronological record of property ownership transfers, from the original owner to the current owner. It documents deeds,. more

Carbon Offset Credits

Carbon offset credits in real estate are tradable credits earned by properties or developments that reduce greenhouse gas emissions through. more

Build-to-Rent

Build-to-rent refers to residential developments specifically constructed for the rental market rather than for sale. These projects are typically. more

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