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Did you buy As-Is

Recently the Arizona Court of Appeals held, that despite the existence of an as-is clause in a contract, a seller is subject to liability if he fails to disclose to a buyer defects in the property that are known to the seller, or if the buyer is prevented by the seller from discovering these defects (considered "facts basic to the transaction"). This is a form of fraud and with so many homes being "flipped," that new paint on the walls could be concealing a greater problem.

So the court says we MUST be given the SPDS by seller, and we did NOT get these on any of our properties. The lack of disclosures is a key part of our lawsuit claiming fraud. Looks like we have the law on our side.

 

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