what are disclosures in real estate
In real estate,disclosures refer to theseller legal obligation to reveal known defects about the home or property they檙e selling. A property disclosure statement is the actual documentation of a seller disclosure.
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What is a real estate disclosure statement?
Real estate disclosure statements, which can come in a variety of forms, are the buyer opportunity to learn as much as they can about the property and the seller experience in it.
What does it mean when a seller makes a disclosure?
What does seller disclosure mean? In real estate, disclosures refer to the seller legal obligation to reveal known defects about the home or property they檙e selling. A property disclosure statement is the actual documentation of a seller disclosure.
What are the most common disclosures in real estate?
These common disclosures are all related to the 渞eal property??the legal term for the actual physical structure and the land. Health and safety hazards:Mold disclosure is common, as are radon and asbestos disclosures.
What do sellers have to disclose about defects?
Answer: Sellers disclosure, the known material defects about the property. Typically, a seller would make these disclosures on a Real Estate Transfer Disclosure Statement (TDS). However, if an item is not covered on a TDS, a seller must still make these disclosures about known material defects.