Legal Briefs
By E. David Marks and Serena Patitucci Torvik, Real Estate Business Magazine, May/June 2009
Managing Disclosure Liability Issues
With the high price of real estate today, proper disclosures are essential to diminish potential liability. Though caveat emptor — buyer beware — may have been the rule of the day in the past, that is not the case now. Today, in most standard residential purchase and sale transactions, buyers are entitled to disclosures. While there are no national guidelines about what real estate professionals need to disclose, if you follow a few logical rules, you should be able to avoid liability.
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