What is the caveat emptor principle in real estate?

Here are some key aspects of the caveat emptor principle in real estate: Property inspection: As a buyer, I should inspect the property carefully and potentially hire a professional inspector to identify any issues. Title search: I need to verify the ownership history of the property to ensure there are no liens or claims against it.

What is caveat emptor?

Caveat emptor is the principle that buyers must look out for themselves. Proper precaution must be taken to be certain there are no major defects in the property. Even with more states moving away from caveat emptor, buyers must do their due diligence before buying a property.

Is a caveat emptor a buyer-friendly policy?

In the United States, some states are bucking the trend in favor of buyers, moving away from caveat emptor towards more buyer-friendly policies. When a caveat emptor is present in a real property transaction, the seller usually sells the property “as is,” and the buyer purchases it in its current state.