Contracts
A Washington 'as is' purchase requires the buyer to accept the property in its current condition. The seller still has a legal obligation to:
AMake all necessary repairs before closing
BDisclose known material defects even in an 'as is' sale✓ Correct
CProvide a full home inspection at no cost
DReduce the price for any defects found
Explanation
An 'as is' sale does not relieve the seller of the duty to disclose known material defects. Washington's seller disclosure requirements (Form 17) apply regardless of 'as is' language.
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Key Terms to Know
Contingency
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
State-Specific Concepts
Disclosure Requirements
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