The buyer shall not have a cause of action against the seller, agent and/or subagent for:

1. (1) Material defects in condition of the residential real property disclosed to the buyer prior to the buyer making an offer to purchase;
2. (2) Material defects developed after the offer was made but disclosed prior to final settlement, provided seller has complied with the agreement of sale; or
3. (3) Material defects which occur after final settlement.

69 Del. Laws, c. 86, § 2