Homeowner I. Don Fixit sold his Laguna Beach, CA property to first-timehomebuyer Yung Inno-Cent for Two Million Dollars. Fixit, the seller, wasrepresented by broker Lazy Days Realty and its principal, Lei Z. Daze. Yung, the buyer, was represented by broker 19th Century Realty and its principal, Ima Geezer.The Real Estate Purchase Agreement and Joint Escrow Instructions stated clearly that Yung was buying the house, which included four bedrooms and three baths,built in the early 1970s, "as is." Yung was anxious to buy the property, desperately wanting to own a home inbeautiful Laguna Beach and considering this home a "deal" in this highlycompetitive real estate market. Nervous and inexperienced, Yung skipped a number of steps - including a buyer's inspection of the property - that moreprudent, experienced buyers would have taken advantage of. After quickly paying for and taking possession of the home, Yung was shocked tofind that, among other problems, the old steel pipes were corroded, requiringcopper re-piping throughout, costing at least $50,000. After putting all his resourcesinto the purchase, Yung did not have money or credit to pay for this major structuralrepair, and he could not live in the house without sufficient water pressure.Yung unsuccessfully tried to consult his broker, Geezer, who had takencommission on Yung's purchase and retired, closing her business.Yung also contacted both the seller, Fixit, and the seller's broker, Daze. Bothdenied any responsibility, saying Yung had purchased the property "as is" and was responsible for all inspection, discovery, and repair of any defects in the property.Does Yung have any rights against seller or seller's broker?If so, (1) identify the basic legal documentation that a sellerand seller's broker/agent each must provide to a home buyerconcerning defects in the property [HINT: You may answer thisportion of this Subpart fully either with as few as three words orwith the applicable three-letter acronym/abbreviation.];(2) briefly describe the type(s) of information each must provideto the home buyer [HINT: You may answer this portion of thisSubpart with as little as two sentences.]; (3) explain why a buyer's failure to inspect residential property during escrow does notbar later legal claims for defects in the property; and (4) citingspecific facts from the Narrative, especially considering the "as is"sale, explain what rights Yung as a buyer has (a) against theseller Fixit, (b) against the seller's broker Daze, or (c) againstboth, discussing the applicable tort claim for failure todisclose/concealment. Or, if not, (1) identify the basic legal documentation that a seller and seller's broker/agent each must provide to a home buyerconcerning defects in the property [HINT: You may answer thisportion of this Subpart fully either with as few as three words orwith the applicable three-letter acronym/abbreviation.];(2) briefly describe the type(s) of information each must provideto the home buyer [HINT: You may answer this portion of thisSubpart with as little as two sentences.]; (3) explain why a buyer'sfailure to inspect residential property during escrow doesbar later legal claims for defects in the property; and (4) citing specificfacts from the Narrative, especially considering the "as is" sale,explain why Yung as the buyer has no rights (a) against theseller Fixit, (b) against the seller's broker Daze, or (c) againstboth, discussing and dismissing the applicable tort claim forfailure to disclose/concealment.