Contracts
An 'as-is' clause in a real estate contract means:
AThe seller has no obligation to disclose any defects whatsoever
BThe buyer accepts the property in its current physical condition, but the seller must still disclose known material defects✓ Correct
CThe buyer waives all right to inspect the property
DThe contract is not subject to Illinois disclosure law
Explanation
An 'as-is' clause means the buyer accepts the property in its existing condition and the seller will not make repairs. However, it does NOT relieve the seller from their obligation under the Illinois Residential Real Property Disclosure Act to disclose known material defects. 'As-is' shifts repair responsibility but not the duty to disclose.
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