What is a Seller’s Disclosure?
- Sherri Johnson
- Sep 18, 2024
- 2 min read
By Sherri Johnson, Your Show and Sell Agent
When you’re buying or selling property in Parker County, understanding the Seller’s Disclosure Notice is a crucial part of the process. As The Show and Sell Agent, I’m here to help clarify what this document means and why it’s important for both buyers and sellers in our area.
What is a Seller’s Disclosure Notice?
A Seller’s Disclosure Notice is a document that provides a detailed overview of a property’s condition, filled out by the seller. It’s not part of the listing agreement itself but plays a vital role in real estate transactions. The seller is responsible for listing any known issues, both visible and latent (invisible), that could affect the property. This disclosure is required by Texas law to help buyers make informed decisions before finalizing their purchase.
Why is the Seller’s Disclosure Important?
For buyers in Parker County real estate, the Seller’s Disclosure Notice provides insight into the property’s condition, helping you avoid any unpleasant surprises after closing. For sellers, this document is your opportunity to present the facts about your property and protect yourself from potential legal issues down the road. Transparency is key, as failing to disclose known issues can result in complications and legal liability.
What Must Be Disclosed?
In Texas, the law requires sellers to disclose certain information about the property, including:
Known structural issues like foundation problems or roof damage
Environmental hazards, such as mold or asbestos
Plumbing or electrical issues
Water damage or flooding history
Repairs or modifications made to the property
It’s important to note that the seller is only required to disclose information they are aware of. If there’s something unknown to the seller, they won’t be held accountable for not reporting it.
The Texas Real Estate Commission (TREC) Form
Texas provides a standardized disclosure form through the Texas Real Estate Commission (TREC), which helps ensure consistency and compliance. The form covers a wide range of topics, including the condition of the home’s systems, any past repairs, and information about the home’s flood history.
If you're interested in viewing the official Texas Seller’s Disclosure Notice form, you can click here.
Why You Should Care About Seller’s Disclosures
For buyers, a Seller’s Disclosure is an essential tool that helps you assess the true value and condition of a property. As your trusted real estate agent, I ensure that these disclosures are provided and reviewed carefully, so you have the full picture before making any decisions. For sellers, filling out this form honestly and completely protects you from future disputes and shows your commitment to a transparent transaction.
If you have any questions about Seller’s Disclosures or anything related to Parker County real estate, don’t hesitate to reach out. I’m here to help make your buying or selling experience as smooth as possible!
-Sherri Johnson, The Show and Sell Agent
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