Contracts
An 'as-is' clause in a purchase contract means:
AThe seller has no duty to disclose known defects
BThe buyer accepts the property in its current condition but the seller still must disclose known material defects✓ Correct
CThe buyer waives all inspection rights
DThe seller is not liable for anything after closing
Explanation
An 'as-is' clause means the buyer accepts the property in its current condition but does NOT relieve the seller of the duty to disclose known material defects. The seller must still complete the Transfer Disclosure Statement (TDS) in California.
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