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REAL ESTATE PURCHASE CONTRACT Tract(s): Seller: The Wesley Foundation at the University of Illinois, an Illinois NotForProfitCorporationBuyer:By:By:Address:Address:City, State, Zip:City, State, Zip:Phone:Phone:Email:Email:1.Offer
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How to fill out an as-is clause does
How to fill out an as-is clause does
01
Read the entire contract carefully to understand the purpose and implications of the as-is clause.
02
Determine if the clause applies to the entire agreement or specific aspects of the transaction.
03
Fill in any blanks or spaces with relevant information related to the condition of the property or goods being sold.
04
Consider seeking legal advice to ensure that the clause is appropriately worded and protects your interests.
05
Have all parties involved in the agreement sign and date the contract to make it legally binding.
Who needs an as-is clause does?
01
Anyone engaging in a transaction where they want to shift the responsibility for the condition of the property or goods being sold to the buyer.
02
Sellers who want to limit their liability and avoid potential disputes or claims related to the condition of the property or goods.
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What is an as-is clause does?
An as-is clause is a legal provision in a contract stating that the buyer accepts the condition of the item being sold without any warranties.
Who is required to file an as-is clause does?
The seller is typically required to include an as-is clause in a contract when selling an item in its current condition.
How to fill out an as-is clause does?
To fill out an as-is clause, the seller should clearly state that the item is being sold without any warranties or guarantees, and that the buyer is accepting it in its current condition.
What is the purpose of an as-is clause does?
The purpose of an as-is clause is to protect the seller from being held liable for any defects or issues with the item once it has been sold.
What information must be reported on an as-is clause does?
The as-is clause should clearly state that the item is being sold without warranties and that the buyer is accepting it in its current condition.
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