As is/Where is?

[Katyanne]

I know I should probably post this over in the home section but I thought posting this here might get more traffic.

There's a house kitty corner to us that we looked at when we were buying our home. It was very nice but needed alot of work so we went with ours. Apparently before the bank repo'd this house the basement flooded and mold took over the entire downstairs. So for several months there were signs all over stating that it was unliveable and other things.

Fast forward: Recently we've noticed cleaning crews and what-not and finally a for sale sign. So I found a listing online

"Very nice bank repo in move in condition. Nice floor plan, new furnace and water heater. Nice backyard with privacy fence, inground pool, hot tub & shed. Deck off master bedroom. Great opportunity. Home sold, "AS IS, WHERE IS". "

My big question, What does "Where is" mean?? hubby joked that it must be sitting on a live volcano or something but I'm pretty sure that's not what it means ;)

Just curious if anyone knows what that wording could mean, sorry so long..

Thanks!
Katie

[Sophia]

I think that means it comes with the lot, as opposed to selling only the home to be moved to another location.

[kari]

Never heard that before myself.

[Spellbound]

Weird! I too have never seen or heard of this. Now I want to know!

[amorey]

According to this site (http://www.skipmcgrath.com/auction_sr/auctionterms.shtml), it means:

Real Estate and large goods such as airplanes and boats are also sold as: "As Is, Where Is" --meaning you are responsible for taking posession where the item is located.