Final answer:
True, a reduction in the sale price for property defects implies the buyer accepts these issues and bears their future consequences, aligning with the 'caveat emptor' principle, placing responsibility on buyers to be informed.
Step-by-step explanation:
The statement in question is true: A reduction in the sale price as compensation for title defects and noncompliance with land-use bylaws does generally indicate that the buyer is accepting these defects and may be responsible for dealing with them in the future. This is often reflected in the principle of caveat emptor, which means 'let the buyer beware.' When a buyer decides to go ahead with a purchase despite known issues, they are typically accepting the property 'as-is' and assuming the risks associated with it. It is crucial for buyers to conduct thorough due diligence before completing the purchase to ensure they are fully aware of any potential issues.
In the context of real estate, advertising may not always disclose every issue with a property, as seen in real-estate advertisements tactically omitting certain disadvantages like a nearby landfill. The Federal Trade Commission (FTC) allows for some ambiguity in advertising, but not outright falsehoods. As a result, buyers need to be vigilant and possibly conduct an independent inspection to confirm the true condition of the property they are interested in. The concept of caveat emptor implies that the responsibility lies with the buyer to be informed about their purchase.