TRENDING: How An Ottawa Office Conversion Ended Up In Receivership

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A seller lists their property as-is for $620,000 due to outdated plumbing and roof issues.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

Public Realm Improvements

Public realm improvements are enhancements to public spaces such as sidewalks, parks, plazas, and streetscapes, often funded or contributed by. more

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

More For You

Feeling Creative? Good Bones Hit The Trinity Bellwoods Market

Feeling Creative? Good Bones Hit The Trinity Bellwoods Market

realtor.ca

Our typical listing spotlight features the standard bells and whistles, including savvy staging. But sometimes, all it takes to make the eyes (and heart) linger is a bare-bones set of photos and a strong foundation.

This is the case with 13 Euclid Avenue. Tucked north of Queen, just around the corner from Trinity Bellwoods Park, this duplex — asking $999,700 — hits the market with its upper levels presenting as a clean state. With no staging, renderings, or AI imaginings (phew), the home can’t hide.

Keep ReadingShow less

Canada’s Approved-But-Unstarted Homes Climb As Starts Slide

Canada’s Approved-But-Unstarted Homes Climb As Starts Slide
Shutterstock

Canada Mortgage and Housing Corporation (CMHC) counted 143,929 homes in September that have approved building permits and no construction started.

That count, reported alongside CMHC’s figures for centres of 50,000 or more, rose 1.1% from August.

Keep ReadingShow less

Ahead Of BC Election, UDI, Housing Central Push For Four Actions

Ahead Of BC Election, UDI, Housing Central Push For Four Actions
EJ Yao/Unsplash

On October 13, the Urban Development Institute (UDI), BC Non-Profit Housing Association (BCNPHA), Aboriginal Housing Management Association (AHMA), and Co-operative Housing Federation of BC (CHFBC) — the latter three of which are together known as Housing Central — published a joint news release “calling on every party in the provincial election to commit to bringing down the cost of building homes” as Election Day nears.

UDI is the group that lobbies on behalf of private developers while the Housing Central partners represent the non-profits, Indigenous housing providers, and co-ops in the community housing sector.

Keep ReadingShow less

Expert: Canada’s Homes Got Cheaper In September, But Buyers Still Pulled Back

Expert: Canada’s Homes Got Cheaper In September, But Buyers Still Pulled Back

Canadian homes got cheaper in September. Buyers responded by purchasing fewer of them. A falling price is welcome, but it does little for a household whose mortgage approval no longer covers the home.

There were 36,657 residential sales in September, 7.7% fewer than a year earlier. Sales fell 2.3% from August after seasonal adjustment, so the decline went beyond the usual seasonal change.

Keep ReadingShow less

New Barrie Condo Blends Several Strategies To Create Affordability

New Barrie Condo Blends Several Strategies To Create Affordability

405 Essa

While some condo developers are pivoting to purpose-built rentals or opting to build larger, more expensive units amid a sluggish condo market, one Barrie developer is harnessing modular and standardized construction techniques, alongside housing incentive programs, to bring affordability back to the condo market.

“Own a condo for less than rent” promises Sean Homes’s 405 Essa project, slated for the west side of Essa Road, just north of the Ferndale and Veterans Drive intersection in south Barrie. It’s an impressive offer, with monthly payments, including mortgage, taxes, and condo fees starting at just $1,500 for a $249,990, 375-sq.-ft pre-construction studio.

Keep ReadingShow less

How Olivia Chow And Brad Bradford Plan To Address Toronto’s Housing Woes

How Olivia Chow And Brad Bradford Plan To Address Toronto’s Housing Woes

Incumbent Mayor Olivia Chow (Facebook), City Councillor Brad Bradford (City of Toronto)

As the October 26 Toronto mayoral election approaches, the city’s housing and affordability crisis remains one of the most pressing issues among voters, and for good reason.

Fewer than 1 in 6 Torontonians can afford to buy a home in the city, minimum wage workers have to work 145 hours per month to afford the average asking rent for a one-bedroom apartment, and while the city pledged to facilitate 285,000 new homes by 2031 in 2022, it’s only achieved 32% of that goal as of this August.

Keep ReadingShow less

How An Ottawa Office Conversion Ended Up In Receivership

How An Ottawa Office Conversion Ended Up In Receivership

495 Richmond Road in Ottawa in October 2020. (Google Maps)

An office-to-residential conversion project in Ottawa has been placed under receivership after the conversion commenced without the approval of the lender, according to filings in Ontario Superior Court.

The property is a seven-storey office building with 106,195 sq. ft of leasable space, located at 495 Richmond Road in Ottawa near Westboro Beach and the Ottawa River.

Keep ReadingShow less
TRENDING: How An Ottawa Office Conversion Ended Up In Receivership

This BC Masterplan Has Buyers (Finally) Stepping Out From The Sidelines

This BC Masterplan Has Buyers (Finally) Stepping Out From The Sidelines

The Mason (Infinity Properties)

For the past couple of years, purchasing a home has felt like a bet very few have wanted to make. From shifting market dynamics to panic-inducing headlines, there's a slew of reasons the sidelines have been the preferred seating for would-be buyers.

Then, The Rail District by Infinity Properties in Abbotsford opened the doors to its first condo building. At The Mason, which completed this spring, 10 condos sold in a single 30-day stretch. And in the months since May, they've just kept on selling.

Keep ReadingShow less
Privacy PolicyAbout UsTerms of UseAdvertise with UsJobsContact UsRSS Feed
All rights reserved SiteMedia © 2026.