Use of “As Is” in a Real Estate Contract (Ontario)

By
Commercial Real Estate Agent with RE/MAX West Realty Inc., Brokerage (Toronto)

Use of “As Is” in a Real Estate Contract (Ontario)

Question:

Why would an agent insist that one insert a clause that says "Buyer acknowledges the home is being bought in as-is condition".

We know the condition...risks etc... have no clauses that include any warranties.

Answer:

All properties are sold "as is", you don't have to add anything to change it. It’s “caveat emptor”.  If you want a warranty, then you have to add it in. So, clearly, don't let the buyer add it in. There's really no point saying that you didn't add in a warranty clause. That be evident from the Agreement.

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