What auction term indicates that the successful bidder accepts the property in the current condition?

The term "As is, Where is" is commonly used in real estate auctions to communicate that the successful bidder agrees to accept the property in its existing condition, without any guarantees or warranties about its state or functionality. This means that the buyer understands that they are purchasing the property in its current state, inclusive of any defects or issues that may not be immediately apparent.

This terminology protects the seller from future claims regarding the property's condition, as the buyer has acknowledged that they are taking the property "as is." The emphasis is on the fact that buyers should conduct their own due diligence before placing a bid, as the sale does not allow for repairs or alterations to be made by the seller prior to closing.

While other terms in the options provided might imply accepting a property in its existing state, "As is, Where is" is the specific legal terminology widely recognized and used in the context of real estate transactions, particularly at auctions. This clarity is essential for both buyers and sellers to ensure everyone understands the implications of the sale conditions.