“As is, where is” is a rather strange expression. I understand the “as is” part, that means the condition of the object of the agreement. It will not change before closing. If you are the Buyer, then, you are accepting the risk.
Rather inclusively “as is” should include everything. Really, there’s nothing else to say.
But, we also have the “where is” part. Just what does that mean? It seems rather peculiar and is a grammatically incorrect expression. Nevertheless, it is often added because “as is” is just not enough and including “where is” will now complete the whole, entire meaning.
When it comes to “where is” we might be referreing property which is actually not subject to the bargain.
So, a Buyer comes along and is purchasing a property including a house, swimming pool, mutual driveway, fence and shed.
The “as is” part certainly covers the condition of the building and its related structures, and assets, but what about the location of those same matters?
This time, the “where is” provision will step up and clarify that the house, swimming pool, mutual driveway, fence and shed all might be on someone else’s property. Who knows!
If you thought that all of those qualifiers were included in the “as is” part, then, good for you, but if you were left with a great deal of uncertainty, then, surely the added words “where is” would have added all the clarification that you needed.
Clear as mud?
Brian Madigan LL.B., Broker