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Question:

When a purchase agreement states the property is being sold “as is,” it ____

A still requires the buyer to receive a Transfer Disclosure Statement (TDS) noting any material facts which affect the property’s value.
Explaination

“As is” is a nebulous and frequently misunderstood statement in real estate practice. A Transfer Disclosure Statement (TDS) containing property information including known or suspected property defects affecting value is required to be delivered to a prospective buyer on the sale of a one-to-four unit residential property as soon as practicable on the commencement of negotiations.