What does it mean when property is sold in “As-Is” condition?

The material defects of a property, known to the Auctioneer prior to the auction, will be disclosed to all bidders. However, at a real estate auction, the Auctioneer makes no representations, guarantees or warranties as to the property’s condition. The property is sold in whatever condition it is in the day of the auction. Buyers should conduct inspections prior to the auction in order to know the condition of the property on which they are bidding.