Definition
This is the seller's required disclosure of known property defects and issues. It's critical information affecting property value and your decision to buy.
Not sure where this fits?
Answer a few questions and we’ll open the path that fits, at the right step.
Find my pathAbout this term
Property disclosures protect buyers by requiring sellers to reveal significant property defects and issues. These disclosures typically cover structural problems, system failures, previous damage, renovations, and other material facts. Incomplete or inaccurate disclosures can expose sellers to liability. Buyers have specific timeframes (often 3-7 days) to review disclosures and may use any issues to renegotiate or terminate the contract.
Pro Tip
Review the property disclosure carefully. Use it to inform your inspection and appraisal.
Example
The seller's property disclosure revealed a roof replacement 5 years ago and previous water damage in the basement.