AS IS refers to a condition under which a property is sold or leased indicating that it will be accepted in its current state with no guarantees or warranties regarding its condition. Buyers or tenants agree to accept the property with all visible and latent defects.
Caveats are warnings, often written to a potential buyer, to exercise caution and due diligence; usually offered as a means for the seller or broker to minimize liability for potential deceptive trade practices.
