Condo Sales and Disclosure to Avoid Lawsuit

Material Fact in a Real Estate Transaction

By James Kimmons

Updated June 07, 2017

Definition: A material fact in real estate is well-defined as a fact that,
if known, might have caused a buyer or seller of real estate to make a
different decision with regards to remaining in a contract or to the
price paid or received.

There are more fancy sounding legal definitions, but as a real estate
professional, it clarifies what we should disclose in a transaction. Most
laws require that we disclose known material facts.




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