Why might real estate professionals require affidavits?

Real estate professionals require affidavits primarily to affirm facts related to property transactions. An affidavit is a written statement confirmed by oath or affirmation, which serves as a legal document that can verify specific facts or assertions relevant to a transaction. In the context of real estate, affidavits can be used to confirm various details such as ownership, property descriptions, and the absence of legal encumbrances. This sworn statement provides assurance to all parties involved—buyers, sellers, and lenders—that the information presented in the transaction is accurate and reliable, thus facilitating the closing process and reducing the risk of disputes later on.

The other options do not accurately reflect the primary purpose of an affidavit in real estate practice. While confirming the legality of a business or enabling faster closing dates may be beneficial indirectly through the clarity that affidavits provide, they do not capture the essence of why these documents are utilized in property transactions. Similarly, avoiding inspections is not a relevant or appropriate use of affidavits in the context of establishing factual understanding in transactions.