The condition of a property in a sale does not have any guarantee. May indicate a problem in condition, or may just signify that the seller cannot certify the condition of the property, as in a public auction following a foreclosure. The buyer or tenant must accept premises as they are, including known physical defects.
Example: James purchases an office building from Phillip with the understanding that the building is to be conveyed as is. When James discovers that there is a problem with the foundation, Phillip is not legally responsible for repairs.