What are the rights of buyers in a real estate transaction?

Buyers in a real estate transaction are entitled to several rights to ensure they are protected during the process of purchasing property. Some of the key rights include:

1. Full Disclosure

Sellers are legally required to provide buyers with all material facts and information about the property. This includes disclosing any known defects or issues that may affect the property's value or desirability. Buyers have the right to receive this information to make informed decisions before purchasing a property.

2. Fair Housing

Buyers have the right to equal treatment and opportunity when purchasing a property. Discrimination based on race, color, religion, sex, national origin, disability, or familial status is prohibited by fair housing laws. Buyers should be aware of their rights under these laws to ensure they are treated fairly throughout the transaction.

3. Protection from Fraud or Misrepresentation

Buyers have the right to be protected from fraudulent practices or misrepresentations during a real estate transaction. If a seller or agent provides false information or engages in deceptive practices, buyers have the right to take legal action to seek restitution for any damages incurred.

By understanding and asserting their rights in a real estate transaction, buyers can protect their interests and make informed decisions when purchasing property.