Contracts
What is an 'as-is' clause in a real estate purchase agreement?
AA guarantee that the property is in perfect condition
BA clause stating the buyer accepts the property in its current condition without repairs from the seller✓ Correct
CA provision requiring the seller to make all requested repairs
DA clause that voids the inspection contingency automatically
Explanation
An 'as-is' clause indicates the buyer accepts the property in its present condition. However, it does not eliminate the seller's duty to disclose known material defects or the buyer's right to inspect.
Related Nebraska Contracts Questions
- A Nebraska lease with an option to purchase is recorded by the tenant. This protects the tenant because:
- Specific performance as a remedy for breach of a real estate contract allows the non-breaching party to:
- A counteroffer made by the seller in response to a buyer's offer:
- A purchase agreement is considered 'executory' when:
- In Nebraska, a real estate purchase agreement must be in writing to be enforceable under:
- The parol evidence rule prohibits the use of prior oral agreements to:
- An option contract in real estate gives the optionee (buyer) the right to:
- A seller accepts a buyer's offer and both sign the purchase agreement. Before closing, the seller finds a higher offer. Can the seller accept it?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →