Material Fact in a Real Estate Transaction
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.
at the time, even if it wasn’t there later, they should disclose it to
other potential buyers. Wouldn’t you possibly reconsider the price
offered or staying in the deal if you found out about significant