Contracts
An 'as-is' clause in a Nevada purchase contract means:
AThe seller has no obligation to disclose known defects
BThe buyer accepts the property in its current condition but the seller must still disclose known material defects✓ Correct
CThe buyer waives all inspection rights
DThe property cannot be financed with a conventional loan
Explanation
An as-is clause means the buyer accepts the property in its current condition and the seller will make no repairs. However, Nevada law still requires sellers to disclose known material defects on the SRPD form even in an as-is sale.
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