Contracts
What is an 'as-is' sale in real estate?
AA sale where the seller makes no repairs and the buyer accepts the property in its current condition✓ Correct
BA sale that closes immediately without inspections
CA sale where the buyer assumes the seller's mortgage
DA sale of bank-owned foreclosure property only
Explanation
An 'as-is' sale means the buyer accepts the property in its current condition. However, the seller is still required to disclose known material defects — 'as-is' does not waive disclosure requirements.
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