What could be a consequence of failing to disclose property defects?

Failing to disclose property defects can lead to legal liability and potential lawsuits because sellers have a legal and ethical obligation to inform buyers of any known issues that could affect the property's value or livability. When defects go unreported, buyers may feel misled or deceived, and if they later discover these issues after completing the purchase, they may seek legal recourse against the seller. This can result in significant financial repercussions for the seller, including damages awarded to the buyer, legal fees, and the costs associated with remedying the undisclosed defects. Therefore, transparency in property disclosures is crucial to avoid such consequences and foster trust in real estate transactions.