Buyer beware

Caveat emptor  is Latin for "Let the buyer beware (from caveat, "may he beware" the subjunctive of cavere, "to beware" + emptor, "buyer").
Generally, caveat emptor is the contract law principle that controls the sale of authentic property after the date of closing, but may additionally apply to sales of other goods.
The phrase caveat emptor arises from the fact that buyers often have less information about the good or accommodation they are purchasing, while the seller has more information. Defects in the good or accommodation may be obnubilated from the buyer, and only kenned to the seller. Thus, the buyer should beware. This is called information asymmetry.
                                                      Caveat Emptor by bluebunny

                                                       Customer Empower

Under the principle of caveat emptor, the buyer could not instaurate damages from the seller for defects on the property that rendered the property unfit for mundane purposes. The only exception was if the seller actively concealed latent defects or otherwise made material misrepresentations amounting to fraud.