The Meaning of the term AS IS

This is a waiver clause for any claim of error or defect in matters that can be examined before signing the contract of sale. In these cases, the buyer takes on the financial risk involved that the error or defect will be discovered in the future.

Where one party is aware that he has no knowledge of particular important data or that his knowledge is imperfect and nevertheless decides to sign the contract, he is not entitled to make a false claim in relation to that detail since he has taken the risk with regard to it.
The use of the clause concerning the purchase of a sale “as is” is customary in sales contracts to sell a second – hand apartment.

Defining the purchase of an apartment “as is” does not categorically transfer to the buyer any contractual risk whatsoever, but only a risk whose occurrence could have been checked or anticipated by the date of signing the contract of sale. To avoid doubt, we will clarify that there is no such term and risk that the buyer takes that exempts the seller from his statements according to the principle of ‘beware the seller,’ as explained.

0 +
Apartments in Israel
0 nis
Average price for a 4 room apartment in Tel Aviv
0 %
Rise in the price index of input in residential construction from the year 1956 to 2021
Scroll to top