Contracts
What is an 'as-is' clause in an Illinois real estate contract?
AA clause requiring the seller to make all repairs before closing
BA provision stating the buyer accepts the property in its current condition, though it does not waive the seller's disclosure obligations✓ Correct
CA clause that makes the contract contingent on inspection results
DA provision allowing the buyer to cancel without penalty for any reason
Explanation
An 'as-is' clause means the buyer agrees to accept the property in its current condition without requiring the seller to make repairs. However, it does NOT relieve the seller of the obligation to disclose known material defects under the Illinois Residential Real Property Disclosure Act.
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