ContractsQuestion 64 of 120
An 'as-is' clause in a purchase contract generally means the buyer agrees to:
a.Waive the right to inspect the property
b.Accept the property in its present condition, without the seller being obligated to make repairs
c.Pay above the appraised value
d.Give up the right to a deed
Explanation
An as-is clause means the seller is not obligated to make repairs and the buyer accepts the current condition, though buyers typically still inspect. It does not eliminate the seller's duty to disclose known material defects.
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