Seller’s Disclosure: What Home Sellers Must Reveal
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A seller's disclosure brings transparency to a real estate transaction and can protect both buyers and sellers.
In the disclosure, a seller provides written information about known issues that could hurt the property's value, such as termite damage, improper drainage or a leaky roof, as well as details like homeowners association fees and restrictions.
Proper disclosure means the buyer gets a more comprehensive view of the property, and the seller lessens their chance of getting sued by the new owner for hiding information.
» MORE: How to sell your house
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