What is the primary purpose of disclosure requirements in real estate transactions?

The primary purpose of disclosure requirements in real estate transactions is to inform buyers and sellers about the conditions of the property. This ensures that all parties involved are aware of any potential issues or defects associated with the property, fostering transparency in the transaction. By providing this information, disclosure requirements help to facilitate informed decision-making, allowing buyers to make considerations based on the property’s condition. These requirements aim to protect the interests of all parties by reducing the likelihood of misunderstandings, disputes, or legal issues arising after the sale. This emphasis on transparency is crucial in maintaining trust and fairness in real estate transactions.