Caveat Emptor

A Latin term meaning “let the buyer beware.” A legal maxim stating that the buyer takes the risk regarding quality or condition of the property purchased, unless protected by warranty.

This Latin term caveat in tour pitched Buyer on notice. It is telling the buyer that the buyer needs to be cautious, the buyer needs to be aware of the situation when purchasing real estate. Do not go into a real estate transaction blind. Do you do diligence, get a title search, do an inspection, come out to the property and look at the land structures, the improvements the house. Look at and inspect everything. As a buyer, you will be making this purchase based on your own decision not anything anyone else has told you therefore the buyer beware or otherwise known as caveat emptor back in the days of old still has a very distinct meaning. Make sure you know what you’re doing before you do it and the Auctioneers are telling you if you do not do this and something is wrong it is not the Real Estate Broker‘s fault, it is not the auctioneer’s fault, it is not the seller’s fault. This is the reason for the terms and conditions. The sale at an auction is to put the buyer on notice, and the auctioneer is telling the buyer to be aware that there may be conditions under which the buyer needs to have knowledge. But it is the buyers responsibility to investigate and obtain knowledge before the bidis awarded, and the purchase is complete.