NBA Player Shai Gilgeous-Alexander's Dream Home Purchase Gone Wrong

In real estate, caveat emptor is the Latin phrase for "let the buyer beware". This means that a buyer purchases a property at their own risk and must conduct their own due diligence before an agreement of purchase and sale is firm.

The exceptions to this doctrine are latent defects, fraud, deceit, misrepresentation by a seller. Latent defects are where a property is unsafe or dangerous. Fraud would entail obtaining the sale under fraudulent circumstances where you are deliberately misleading a party. Deceit involves intentionally concealing material facts to a party. Lastly, misrepresentation is where a seller is making false claims about a property. Should any of these exceptions arise in a purchase/sale transaction, the principle of caveat emptor would not apply.