Contractual Remedies Available to the Buyer in a Property Transaction

The contract law protects the rights of buyers to seek information from sellers, but it does not obligate the seller to provide all known information about the property. The buyer must also use public information and inspect the property to assess its condition. In a case where there is no misrepresentation or mistake of facts, the buyer cannot rescind the contract based on non-disclosure by the seller. However, if the inspection report contains material misrepresentations, such as latent defects or pollution, the buyer may have grounds to void the contract. The buyer must prove that they relied on the negligent misrepresentation and that it was serious enough to affect the property's value or health.