Final answer:
A smaller than represented property size does not necessarily indicate that fraud was committed, but it warrants further investigation. Imperfect information can make price agreement difficult due to different value assessments and undisclosed issues.
Step-by-step explanation:
If a buyer finds that the calculation of property size is smaller than what was represented by the seller and the seller's real estate professional, it does not necessarily mean that fraud was committed. A discrepancy in property size could be a result of an honest mistake, a miscommunication, or a difference in measurement standards. However, it is vital for the buyer to investigate further. In the event that the discrepancy is significant and the seller has intentionally misrepresented the size to induce the sale, then it's possible that fraud may have been committed.
Concerning the difficulty in agreeing on a price, imperfect information can cause challenges because both the buyer and the seller may have different assessments of the value of the property. A buyer may be hesitant to agree to a certain price without full knowledge of the property's conditions, such as potential issues not disclosed by the seller or observable only upon a closer inspection, like a landfill or factory nearby.