There is a very important provision in real estate laws to protect the interest of the buyers. According to real estate disclosure laws, a seller has to disclose if there are any defects in the property to all those who are interested in his property. This law protects 
the potential buyer as he may not notice any defect in the property and may come to take note of it only at a later stage when the deal has been finalized or he has taken the ownership rights. However, there are loopholes in this law, as what makes a serious defect in a property has not been clearly defined and sellers take advantage of this lacuna in the law. Hence, it becomes difficult to enforce this law if a buyer feels that he has been cheated in some way by the seller. These laws are constantly upgraded and many of the states in the country still do not have solid disclosure laws.
Exercising caution or asking for more information pertaining to the property is a good idea if you happen to be in one of the states that do not have mandatory laws of disclosure. This is particularly true about states where the disclosure law is not mandatory and is only voluntary. You can consult your property dealer about these issues. It is good however,
that federal laws about lead paint and radon gas are applicable in all states. Some states are very rigid about disclosure laws and if a buyer feels at any time that he has not been informed about any defects in the property, he can opt out of the agreement and is entitled to full refund of the advance, if he has made any. A buyer can demand the requisite disclosure from the seller about the property before entering into the agreement.
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