What are the consequences of failing to disclose material facts in Oregon?

When material facts are not disclosed in a real estate transaction in Oregon, the seller and broker can indeed be held liable for damages and lawsuits. Non-disclosure of material facts can lead to significant legal repercussions because it breaches the duty of honesty and transparency that sellers and brokers owe to buyers.

This liability can stem from various legal principles, including misrepresentation and breach of contract. Buyers rely on accurate information when making purchasing decisions, and failure to disclose can result in financial loss or other damages, which provides a basis for legal claims against both the seller and the broker.

The possibility of legal action emphasizes the importance of full disclosure in real estate transactions, fostering trust and protecting all parties involved. Additionally, such consequences are a reflection of the regulatory framework designed to ensure fair practices within the real estate industry.