To sell a house “as-is” means that you are selling the property in its current state, with an understanding that no repairs will be made and that the home will come with all its current issues and problems.
The buyer will have to initial and sign the Residential Real Estate Contract indicating that he or she understands the exact terms of the “as-is” transaction in Section 41 which states:
"“AS-IS” CONDITION: This contract is for the sale and purchase of the Real Estate in it’s “As-Is” condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with respect to the condition of the Real Estate have been made by Seller or Seller’s Designated Agent other than those known defects, if any, disclosed by Seller. Buyer may conduct an inspection at Buyer’s expense. In that event, Seller shall make the Real Estate available to Buyer’s inspector at reasonable times. Buyer shall indemnify Seller and hold Seller harmless from and against any loss or damage caused by the acts of negligence of Buyer or any person performing any inspection.”
Note that Illinois law requires you, as a seller representing the estate, to tell a prospective buyer, in writing, what you know about the quality, healthfulness, and safety of your property. This includes things like past flooding and flood risk, unsafe conditions, municipal code violations, environmental issues, boundary line disputes, and material defects in specified structures, components, and systems. You need to disclose only those defects within your actual knowledge.
However, you are not required to complete a disclosure form if you never occupied the property and never had management responsibility for the property, nor hired someone else to manage it.
If you have any questions about this process, please feel free to give me a call!