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The days of caveat emptor - let the buyer beware - are gone forever. In fact, given the flood of federal, state, and local consumer protection laws enacted during the last couple of decades, this is the era of caveat vendor - let the seller beware. Prudent house sellers and agents must now follow two simple guidelines:
- Beware of belligerent buyers.
- All buyers become belligerent if not given full disclosure.
As a seller, you may think that some of the disclosure requirements are overly protective of buyers. Because, however, you probably intend to purchase a new home to replace the one you're selling, you can benefit from disclosures as a buyer. All things considered, it's a fair trade.
