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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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As is Where is


Synonyms:buyer beware, what you see is what you get
Filed Under: legal-contracts, real-estate
Tags: contract, legal, realty
 

Definition of as is where is

as is where is
1. The buyer makes the purchase at his or her own risk and is responsible for transporting the item from its current location to where he or she may want to move it.

Related Terms and Acronyms:

  • bill of sale (BS)   A written document that serves as evidence of the transfer of title to personal property.
  • contract   An agreement between two or more parties that can be enforced by law.
  • guarantee   An enforceable warranty on the promise of quality of a product or formal promise by one person to take responsibility for the debts or obligations of another person if that person fails to meet them.
  • waiver   The intentional and voluntary renunciation, abandonment, or surrender of some claim, right, or privilege.

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Important Tip on Credit Card Debt
Credit card interest rates average at around 18.9 per cent. You, like many other Canadians, may have over ten thousand dollars charged to your credit card, but, if you only make the minimum required monthly payment of 2 per cent ($200 the first month) that $10,000 in credit card debt will ultimately take more than 57 years and cost around 40,000 dollars to fully pay off.

Using a home equity loan will allow you to eliminate the high interest credit card (and by eliminate we mean cut up) and consolidate the debt to a low interest rate mortgage payment.