What must be disclosed to the buyer regarding property conditions before closing?

The requirement to disclose all material facts affecting the property's value underscores the seller's obligation to provide transparency and protect the buyer's interests. In real estate transactions, this principle is crucial as it ensures that buyers can make informed decisions based on the true condition of the property.

Material facts can encompass a broad range of issues, including structural defects, environmental hazards, and any other factors that could significantly influence a buyer's evaluation of the property’s worth or desirability. For instance, if a property has a history of flooding, pest infestations, or zoning issues, disclosing these facts is essential to provide a complete picture of what the buyer is investing in.

This comprehensive disclosure is designed to foster fairness in the transaction process and to prevent fraud or misrepresentation. By ensuring that all relevant information is communicated, both parties can proceed with greater confidence, which promotes a smoother closing process and minimizes the potential for disputes after the sale has occurred.

Other alternatives do not meet the full scope of this requirement; they limit the types of disclosures that must be made and could leave buyers uninformed about serious issues impacting their investment decisions.