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Required Disclosures When Selling Real Estate
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How You Must Disclose
Most states' laws mandate that disclosures be on special forms the seller must sign and date. Be sure the buyer acknowledges receipt of the disclosures by signing and dating the forms as well. If your state doesn't require a specific disclosure form, be sure the buyer otherwise affirms receipt of your disclosures -- in writing.
Check with your real estate broker or attorney or your state department of real estate for disclosures required in your state. Also, check with your city planning department for information on local ordinances and disclosures that affect your sale. Finally, be aware that real estate brokers are increasingly requiring that sellers complete disclosure forms, regardless of whether or not it's legally required.
FAQs
- What is the seller obligated to disclose to the buyer?
- Is the seller responsible for any closing costs?
- Can a homeowner legally refuse to sell a home to a potential buyer?
- What is a buyer's market?
- How do I choose a lawyer?
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