What does "as is" mean for a Condo?

As is means nothing has to be updated, but heat, water, AC should all be in working order. Floors may need to be refinished, and painting goes without question. Sometimes they refer to an apartment like this as "estate condition".

Wishstar: What have you been smoking? "As is means nothing has to be updated, ...." As is means EVERYTHING has to be updated. Look it up.

I bought an apartment and the broker told me it was "as is", although not in the ad. What that meant was that the seller was not willing to make any repairs that might be necessary. It needed a lot of work to make it livable, but it was appropriately priced compared to similar apartments in the on sale at the same time in the building.

The apartment I bought was an estate sale and sold "as is." EVERYTHING needed re-doing, including bringing wiring up to code and asbestos abatement on kitchen floor. My lawyer said the only requirement was that the executor leave the place "broom clean."

It means the unit is in the condition you see it in, working or not, complete or not, with no assertion or guarantee of usability or legality. You should go through it with an electrician, plumber, and other professional to determine whether you will be required to make changes, or how much the aesthetic changes you want to make will cost. Bid accordingly. Note that some 'as is' conditions may result in banks being unwilling to lend as they cannot document that a unit meets their suitability requirements (incomplete kitchen or bathrooms, for example).

Aaron 2 is correct. I had a contractor (knew him for many years) inspect the apartment and he gave me 3 lists: absolutely needed to be done for habitability, should be done eventually, and nice to do to improve the value of the apartment. He gave me estimates based on this. We had an electrician check on that part of the work and the contractor was absolutely correct. The price of the apartment was appropriate considering the estimates.

http://streeteasy.com/talk/discussion/39421 How is it that KennyZ started two threads but is listed as having zero posts?

They think he's Kenny g.