Oops.. there are no suitable tender specifications to be included, instead a fun fact is added.
Buyer beware- Historically the principle of Caveat Emptor (buyer beware) has applied when purchasing property. The principle effectively means that the buyer is responsible for uncovering any negative issues that may affect the house they are purchasing. However, this principle has been recently modified by legislation where a seller or their agent must disclose any information they are aware of that would reduce the value of the property (or else face criminal sanctions). In addition, they must also disclose as much information as possible in the Property Information Forms, including any unregistered matters which affect the property. These changes do not however account for any matters that are not within the actual knowledge of the seller. Therefore, the principle of Caveat Emptor in property transactions is effectively still in full force.
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