What is required under Indiana law when selling property "as-is"?

When selling property "as-is" in Indiana, the law requires that sellers disclose any known defects in the property. This means that although the property is being sold in its current condition—without the obligation for the seller to make repairs—the seller still has the responsibility to inform potential buyers of any material defects that could affect the property’s value or the buyer's decision to purchase.

This requirement exists because it aims to protect the buyer from undisclosed issues that could lead to significant expenses or safety concerns after the purchase. By providing this transparency, the seller helps ensure that the buyer can make an informed decision about whether to proceed with the purchase.

While the other options may have elements that relate to the transaction process, they do not accurately reflect the legal requirements for selling property as-is under Indiana law. Complete renovation of the property is not a requirement, nor is there an exemption from all disclosures since disclosure of known defects is mandated. Verbal agreements, while sometimes permissible in real estate transactions, do not satisfy the legal requirement for disclosures, which are typically expected to be documented.