What must sellers disclose regarding material latent defects?

Sellers are indeed required to disclose material latent defects that affect the use or value of a property. Material latent defects are issues that are not readily observable but could have a significant impact on the property’s functionality, safety, or market value. For example, a hidden plumbing issue or structural problem that could lead to costly repairs falls into this category.

The requirement for disclosure exists to protect potential buyers from making uninformed decisions that could lead to financial loss or safety concerns. By disclosing such defects, sellers help maintain transparency in the transaction, thus fostering trust between parties and complying with legal obligations.

This practice is rooted in the principle of good faith in real estate transactions, ensuring that all parties are aware of significant issues that could affect their decision to buy or sell the property. Disclosing when it affects the use or value aligns with the seller's responsibility to provide pertinent information to the buyer.