Contracts
What is an 'as-is' clause in a Nevada real estate contract?
AA clause eliminating all disclosures required by Nevada law
BA clause where the buyer agrees to accept the property in its current condition, though sellers are still required to disclose known material defects✓ Correct
CA clause requiring the seller to make all repairs before closing
DA clause prohibiting home inspections
Explanation
An 'as-is' clause means the buyer accepts the property in its current condition and the seller will not make repairs. However, Nevada law still requires sellers to disclose known material defects on the Seller's Real Property Disclosure form even in as-is transactions.
People Also Study
Related Nevada Questions
- An 'as-is' clause in a Nevada purchase contract means:Contracts
- The Seller's Real Property Disclosure (SRPD) in Nevada requires sellers to disclose:Environmental
- What is an 'as-is' clause in a Nevada real estate contract and does it eliminate all seller disclosure obligations?Contracts
- A Nevada seller accepts a buyer's offer and both sign the contract. Two days later the buyer discovers a material defect not disclosed by the seller. The buyer may:Contracts
- What is an 'as-is' clause in a Nevada purchase agreement and does it eliminate all seller disclosure requirements?Contracts
- Nevada law requires licensees to disclose their agency relationship to all parties:Agency
- What does the Nevada Agency Disclosure form inform the client about?Agency
- What is the Nevada requirement for an agent to disclose a material fact about a property?Nevada License Law
Key Terms to Know
Contingency
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
Disclosure Requirements
Study This Topic
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →