Mortgage Glossary
As-Is Condition
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
As-is condition means the seller will not make repairs, and the buyer accepts the property in its current state.
What As-Is Condition means
Florida's standard as-is contract still lets buyers inspect and cancel within an inspection period, but the seller is not obligated to fix anything. Buyers should budget for repairs and confirm that as-is issues will not block their loan type.
Florida example
A buyer purchasing an as-is Fort Myers home used the inspection period to uncover roof damage, then canceled because the FHA appraisal would have required repairs the seller refused to make.
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