Property Disclosures

Question 1

information that might have resulted in a different buyer or seller decision related to performing or terminating the contract or the price paid or received

Answer 1

material facts

Question 2

negative property information that could reduce the property’s value.

Answer 2

adverse material fact

Question 3

a hidden property condition that’s not likely to be discovered through a general review or inspection.

Answer 3

latent defect

Question 4

the seller makes no representations about property conditions, and the burden is on the buyer to perform due diligence.

Answer 4

“buyer beware” (aka caveat emptor)