Final answer:
Option (c), Buyers and sellers acknowledge that the purchase is in as-is condition when signing the HAR Purchase Contract form.
Step-by-step explanation:
When buyers and sellers sign the HAR Purchase Contract form, they are making several acknowledgments regarding the terms of the property transaction. Specifically, they acknowledge that the buyers are purchasing the property in as-is condition, which means the seller is not responsible for any repairs or conditions of the property after the sale.
This mutually agreed condition signals that the buyer accepts the property with all its current faults, if any, and does not expect the seller to make any improvements prior to the sale. This acknowledgment is crucial as it reduces the liability of the seller concerning the property's condition at the time of sale.
Furthermore, the nature of a property transaction ensures that both buyers and sellers act independently and compete with each other, and they must be well informed of the conditions in the markets. This competitive and informed marketplace underlines the importance of transparency and honesty in disclosing the property's condition, ensuring that both parties are entering into the contract with clear understanding and expectations.
Lastly, the principle that buyers and sellers can enter into and leave the market whenever they choose is a reflection of the flexibility and voluntary nature that underpins the real estate market, allowing for autonomy in decision-making.