When you buy your first home, you want the truth about it, plain and simple. That is exactly what property disclosure laws are meant to do. In most states, the seller is required by law to let you know about any problems they already know exist with the home. These rules are there to protect you from moving in and finding expensive surprises later. Below, our friends from Hayhurst Law PLLC discuss property disclosures sellers are required to tell you.
What Is A Property Disclosure?
A property disclosure is a written statement from the seller that explains any issues they know about with the house. You will usually get it before closing so you can look it over before making your final decision.
Typical disclosures include:
- Leaks in the roof
- Water in the basement or crawlspace
- Mold or bug problems
- Cracks or shifts in the foundation
- Wiring or plumbing that is not working right
- Lead paint in older homes
- Environmental hazards like asbestos or radon
It is important to understand that the seller is only required to list problems they already know about. They are not expected to guess about things they have never seen.
Why This Matters For Buyers
If a seller hides a problem that they knew about and you find it after you move in, you might have legal rights to take action. That could mean getting repairs covered or even filing a lawsuit in certain situations. But nobody wants to end up in court if it can be avoided. That is why reading the disclosure carefully before buying is so important.
A property disclosure works best when you pair it with a home inspection. The disclosure tells you what the seller knows. The inspection helps you find what they might not.
The Role Of The Home Inspection
Never skip the inspection. A good home inspector will:
Double-check what is listed on the disclosure
Spot issues the seller might not know about
Give you solid information to use when negotiating repairs or price
If your inspection shows big problems that were not listed in the disclosure, you might be able to renegotiate or even walk away if your contract allows it.
Buying “As-Is” Still Has Rules
Sometimes you will see a home sold “as-is,” which means the seller does not plan to fix anything. This does not give them the right to hide known problems. It simply means you agree to buy the home in the condition it is in right now. You still have the right to know about any known defects.
Laws Are Different In Each State
Every state has its own set of rules about property disclosures. Some have long, detailed forms. Others have shorter requirements. This is where a good wrongful termination lawyer who is also a licensed real estate attorney, can help. They can explain what is required in your state and make sure the seller is following the law.
Be Informed
Buying a home is one of the biggest steps you will ever take. Knowing the truth about a property before you buy it can save you heartache, money, and a whole lot of trouble. It’s better to find out the bad news before you get the keys in your hand. That is why property disclosures, inspections, and good legal advice go hand in hand.
