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Seller s Disclosure: What you need to Know



What Do Home Sellers Need to Disclose?


If you’ve ever bought or sold a home, you’re most likely aware that the process involves an abundance of paperwork and legal formalities.


One of the most important documents is the seller’s disclosure form, in which the seller answers various questions related to the condition of the property.


When completed correctly, this form can help protect both parties to the transaction—it informs buyers of potential problems, while shielding the seller from lawsuits in certain situations.


But what exactly are sellers required to disclose?


While the specifics vary from state to state or even city to city, some of the standard disclosures include the following:


- Threats to health or safety. If the seller is aware of the presence of asbestos, lead paint, toxic mold, or other hazards on the property—including risks from potential natural disasters—they typically must disclose these threats.


- Water damage, including existing damage and known flood risks.


- Significant repairs that the home has had or may imminently need.

These are generally limited to structural issues or the home’s electrical, plumbing, or other key systems.


- Neighborhood nuisances, such as noise or odors that could negatively impact the owner’s enjoyment of the property.


- Deaths. Many states require sellers to disclose deaths that have occurred due to the property’s condition (even if the safety issue has been rectified) or as a result of violent crimes that took place on the property.


- Missing items. If the seller intends to remove items that a buyer may reasonably expect to have once they move in—for example, kitchen appliances, lighting fixtures, or HVAC units—many states require it to be disclosed.


A box property checked, disclosing a problem with the property, will provide buyers with sensible information needed when inspecting the property and will protect seller from future claims after buyers moved into the property.



https://www.cecilialarosarealtor.com/single-post/seller-s-disclosure-what-you-need-to-know


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