Q. What does "As Is, Where Is" mean?

One of the most common statements made at auction, “as is, where is,” simply means the property is being sold without warranty and that there are no contingencies based on the status of the asset being sold. It is important that you inspect all auction items before you bid. Photos and descriptions may not show or tell all the details of the item. It is the buyer’s responsibility to thoroughly inspect and know what you are bidding on BEFORE the start of the auction. Once you bid and buy an asset at auction, you are the new owner.