Q: In AZ when a buyer purchases property "as is". Is it really '"as is"? They still have the opportunity to have an
inspection. Can they cancel the contract during that time period if there is something in the inspection they do not approve of?
A: It depends on the terms of the contract. Generally, however, most contracts in Arizona provide that even where a sale is "as is" the buyer is still entitled to conduct inspections and ask the seller to make repairs, even though the seller need not make any repairs, and may still cancel the contract without penalty during the inspection period. Additionally, even where a sale is designated "as is" the seller is usually obligated to maintain the property in the same condition until the close of escrow. Seller's interested in an "as is" transaction may need to modify the terms of their contract to meet their understanding of what "as is" means.
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