What information must a seller provide in the disclosure?

The requirement for sellers to provide information in the disclosure is grounded in the principle of transparency in real estate transactions. A seller is obligated to disclose all known issues affecting the property, which encompasses a wide range of potential problems, including but not limited to structural issues, plumbing or electrical failures, mold, pest infestations, and any other significant concerns that could impact the property's value or safety.

This comprehensive approach to disclosure ensures that buyers can make informed decisions and are aware of any potential risks or circumstances that may affect their enjoyment of the property or lead to additional costs in the future. The TREC emphasizes the importance of full disclosure to maintain ethical standards and protect both parties in real estate transactions.

Limiting the disclosure to only major repairs or requesting information only if prompted by the buyer would not provide the level of protection necessary for a fair transaction. Similarly, disclosing only defects present in the property could omit critical information that may not necessarily be a defect but still significantly impacts its value and livability. Thus, the requirement for sellers to provide all known issues is crucial in promoting ethical practices and safeguarding buyer interests.