Caveat emptor is a Latin phrase and the principle that the conveyancing process is based on, that can be loosely translated in English to “let the buyer beware.” Nevertheless, as the Vendor, you have an obligation to make disclosures in relation to the land as dictated by legislation, being section 32 of the Sale of Land Act 1962. It is important that the Vendor makes accurate disclosures in relation to the land, or they could face serious repercussions.