Which obligation does a seller have concerning the disclosure of known material defects when selling a home?

The obligation of a seller to disclose known material defects is fundamental in real estate transactions. When selling a home, the seller is required to disclose any known issues that could affect the value or desirability of the property. This obligation is rooted in the principle of transparency and fair dealing, helping to protect buyers from purchasing homes with undisclosed problems.

Material defects refer to significant issues that could influence a buyer's decision to complete the purchase, such as structural problems, plumbing leaks, or electrical system failures. By disclosing these defects, the seller ensures that the buyer can make an informed decision about the property. It also minimizes the risk of future legal disputes over undisclosed problems.

The other options do not reflect the responsibilities or roles typically held in a real estate transaction. While a buyer may opt not to perform their own inspections, it does not relieve the seller of their obligation to disclose known defects. Lenders and appraisers have different responsibilities; lenders mainly handle financing and may not be involved in defect disclosures, while appraisers assess property value rather than identify specific defects the seller must disclose. This context underscores why the seller's duty to disclose material defects is paramount in the sales process.