What is considered a material fact in real estate transactions?

A material fact in real estate transactions refers to any information that could significantly affect a buyer’s decision to purchase a property. It is information that a buyer would consider essential when evaluating the property's desirability, safety, or value.

In this context, a community sewer system is a material fact because it directly impacts the property’s usability and value. If a property is connected to a municipal sewer system, it may have fewer issues with waste management compared to properties relying on septic systems. This information is vital for potential buyers who need to understand how the property's infrastructure meets their needs.

On the other hand, local zoning laws, while important, often regulate land use but may not be directly impactful on the immediate physical attributes of a property. Market appreciation potential can fluctuate and is more speculative, whereas property tax assessments are more administrative and can vary widely based on several factors, making them less relevant to an immediate decision-making process concerning the value and utility of the property itself.