Sellers Disclosure Statements

The Seller’s Disclosure statement is an important real estate document for both buyers and sellers.  This form is where you tell the story of the property, what it may or may not have present on the property as well as what defects there may be.  It is important the seller fill it out accurately and completely.  It is one of the documents that if things go wrong and parties end up in court that will be looked at in detail.  As a seller, it is important to not leave blanks.  It is important to tell what you know and if the disclosure does not cover it add an additional statement.   That way you know if questioned, you told everything you knew.  Big things like flood, fire, water damage, mold etc have a tendency to cause sellers to end up in court if they do not disclose.  It is always better to error on the side of telling more than less from my experience.  This is true even if the problem has be fixed, remediated or resolved.  Many buyers get upset just because they did not know, regardless that you may have fixed it.  It is well worth taking the time to review, think through and fill out carefully.  As a seller think about what you would want to know as a buyer.  Buyers should also read and ask questions from the disclosure.  They should leave no question unanswered when buying a home.  If the seller has not filled out their disclosure and left items blank, question them further.  It is better to ask the questions up front, then to find something out three months down the road after you moved in and then feel the need to hire an attorney.  The seller’s disclosure is often a document that just gets a glance.  It should not be!  Fill out carefully, review carefully are very important words.

Categories: Area News, General News, Listing / Buying Tips, Property Code, Real Estate Forms, Real Estate News, San Antonio Real Estate, Sellers Disclosure, and Texas Disclosure.