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What does the term "AS IS, WHERE IS" in a commercial real estate transaction mean?

Full question:

Does the term "AS IS, WHERE IS" in a commercial real estate transaction suffice with respect to representations?

Answer:

Disclosure requirements vary by local area.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

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FAQs

Buying a house 'as is' means you accept the property in its current condition, which can carry risks. You may inherit hidden defects or issues that the seller isn't obligated to disclose. Repairs can be costly, and financing options might be limited. It's crucial to conduct thorough inspections and due diligence before proceeding.

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