Real Estate Disclosure: What Do You Legally Need To Tell The Buyers?

It’s standard practice to make a house look its best before trying to sell. Putting on a fresh coat of paint, finally making those repairs you’ve been putting off—these improvements can be the difference between getting an offer and having a buyer walk. But what about making a real estate disclosure? What do you legally need to tell your potential buyer before they make an offer?

Some sellers make improvements just to cover up some defect that could cost them the sale. Whether intentional or not, you don’t want to be misleading about your property because it could have legal ramifications.

This is what you should know about your disclosure:

Real Estate Disclosure—What’s That?

Disclosures allow the buyer to learn as much as possible about a property before they buy it. But disclosures don’t just serve to benefit buyers—sellers can prevent future legal action from the buyer by sharing their knowledge of the house. From drafty windows and renovations to past infestations, disclosures allow sellers to put everything on the table, so to speak.

How to Make a Disclosure

How you make disclosures on the property you’re selling varies by state. Usually, the seller answers a series of questions put together by local and state agencies. Sellers also need to provide any communication documentation they have relating to any defects that could affect the value of the property.

If you want to learn what you need to disclose in Florida, talk to your local real estate attorney.

What Do Sellers Need to Disclose?

Sellers often disclose information on past renovations and improvements done to the home. Whether the sellers received permits to make changes is also pertinent as work done without a permit can fail to meet the proper codes and pose a risk to the buyer. Other relevant information that a seller should share with a buyer in a real estate disclosure include any pest infestations, neighborhood nuisances, property line disputes, defects in any major systems like plumbing, and whether there are any liens on the home.

Are you unsure about making a real estate disclosure when selling your home? Talk to the real estate law experts at AM Law. Call 305-441-9530 today.