What is the significance of a "material fact" in Indiana real estate disclosures?

A "material fact" in Indiana real estate disclosures is significant because it pertains to any information that could influence a buyer's decision regarding a property. This includes aspects such as structural issues, zoning problems, or any environmental hazards associated with the property. The disclosure of these facts is not only a best practice for maintaining transparency but is often mandated by law to ensure that buyers are informed about any potential risks or concerns that might impact the value or desirability of the property. Failure to disclose material facts can lead to legal repercussions for the seller or the real estate agent, emphasizing the importance of complete and honest communication during the transaction process.