All About Real Estate Disclosures
You want to know exactly what you are getting when you make any large purchase, especially when you are buying a home – the largest purchase that many Americans will ever make in their life. That's why a real estate disclosure statement is a fundamental part of any real estate transaction.
By law, home sellers must provide a disclosure statement in writing regarding the condition of their home. The contents of disclosure statements vary by state and municipality, but they must disclose known hazards and defects of the home, as well as any important information that may affect the seller's decision.
As a seller, you must make sure that you compile a thorough list of disclosure items. Your agent should be able to help you determine if each item must be disclosed.
Sellers are not required to search for any unknown defects, but failing to disclose a reasonab...
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