True or False: If properties have a history of damage, they must be disclosed in the auction listing.

Disclosing the history of damage in an auction listing is essential as it directly impacts potential buyers' decisions and ensures transparency in the auction process. In Kentucky, as in many other states, there is a legal requirement for sellers to provide information about any known defects or issues with a property, which includes past damages. This obligation is rooted in consumer protection laws designed to prevent misleading practices and promote fair dealing. By disclosing such information upfront, auctioneers and sellers uphold ethical standards and create a more informed environment for potential bidders, fostering trust in the auction process. This practice not only helps prospective buyers make educated choices but also mitigates the risk of post-auction disputes based on undisclosed issues.