January 14, 2010

What is an “As is, Where is” Sale?

Read our listings carefully, all of the sales on BKAssets.com are sold “as is, where is”. What the heck does that mean!?

“As is” is a legal phrase, used when something is to be sold “in its/their actual current condition”. In other words, the seller does not claim that the item is in perfect or working condition, and the buyer accepts any faults it may have; there are no guarantees or warranties, or returns. (A similar phrase is “to be sold as seen”, meaning “It’s up to the buyer to look at it and judge how ropey it is”.) “Where is”, means that it’s up to the buyer to remove the goods from wherever they are currently stored at his/her own cost; delivery is not included in the deal. (VSD)

Bankruptcy sales are all “as is, where is” sales. This is why due diligence on the part of the bidder in bankruptcy auctions is crucial. Make sure you know what you’re getting into when bidding on our assets. We want to provide you with a great experience and a great deal. We want to build a lasting relationship with you and we don’t want you to get swindled. We love to hear from you and answer your questions as best we can. In most cases we’ll go above and beyond to provide you with stellar customer service, we just ask that you meet us halfway and research your asset before you bid!