When it comes to real estate disclosures, there are some things you should always know. Five of the main things you should always know include understanding what a disclosure is, understanding how a seller makes a disclosure, what it is that sellers disclose, understanding the difference between the disclosure and inspect, and last knowing when the buyer receives disclosure statements.
- Describing exactly what a disclosure agreement is between a seller of a house and the buyer.
- Describing what could be included in disclosure, such as renovation and upgrades to a home that were done in the years past.
- Disclosures are not the same thing as an inspection, which is done by a third party. Instead, disclosures are performed by the sellers themselves.
“Disclosure statements, which can come in a variety of forms, are the buyer’s opportunity to learn as much as they can about the property and the seller’s experience in it.”