A Licensee Guide to Earnest Money Deposit Disputes

The purpose of an “as is” clause disclaimer is generally to force the buyer to perform and rely upon their own due diligence, rather than upon the seller’s representations, in determining whether or not to purchase the property. However, under Nevada real estate law the seller of residential property has an obligation to “disclose any and all known conditions and aspects of the property which materially affect the value or use of residential property in an adverse manner.” (see NRS 113.130 and 113.140). Does the As-Is clause shield the seller and licensees from liability?