When searching for a home, there are so many things to consider. If a seller is offering a property disclosure, it can help you learn more about the home than you would with just an inspection alone. But what is a Seller’s Property Disclosure?
Sellers are required to disclose any latent defects that may not be easily found by an inspection.
What is a seller’s property disclosure?
A Seller’s Disclosure, or property disclosure, is a legal document that sellers fill out to reveal and explain defects and conditions of the home they’re selling (or events that happened on the property) that prospective buyers may find unfavorable.
Why is it important?
The disclosure is important for those buying a house and for those selling the property. it provides a clearer picture of the home and its history and allows buyers to make a more educated decision on whether to purchase the home, defects and all. For sellers, the document can protect them from being sued by the buyers after the sale is complete.
If a seller has never lived in the home, they may provide a less in depth disclosure.
What information is included?
Structural items, systems & components, plumbing related items, soil, termite & pest, litigation & insurance, & a fixtures checklist with all included items in the home sale.
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