CAVEAT EMPTOR Latin, meaning "Let the Buyer beware". Maxim which applies to real estate transactions where the onus is on the Purchaser to satisfy herself as to the suitability and condition of the property she is considering for purchase. Vendor is not responsible to the Purchaser for the condition of the property and, unless he is specifically asked, does not generally have an obligation to reveal problems to the Purchaser (except where the defect is hidden, serious and could not be discovered by the Purchaser after reasonably prudent inquiries and investigations).
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"It is no secret nowadays, particularly to women, that many American males, even those of middle-aged appearance, wearing suits and holding down jobs, are in fact, incredible as it sounds, still small boys inside." -- Thomas Pynchon
Real Glossary.com Term Of The Day was designed specifically to expand and enhance your career and personal vocabulary, using selected real estate terms from the Real Glossary interchanged selectively with terms from other Mega Glossaries for their usefulness in business, public speaking and day-to-day conversation .You may also search any term from the Real Glossary and Mega Glossary database menus provided below.
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