What are they and are they important? Check out this quick video we did explaining everything you need to know about these disclosures! Don’t want to see the video? Jump below to read all about them.
First let’s start with what property disclosures are. The disclosures are a couple of pages with the information that the seller knows about the house. They have very basic things, like the type of heating in the home, down to common issues, like whether the roof has leaked. Typically you receive them in the first couple days after an offer has been accepted so you can get an idea of what to look for during an inspection.
While we want to trust whomever is filling the disclosures out, we still want to do our own due diligence on the property because people never know everything about their homes. You would be surprised how few people don’t realize they have a burgeoning pest or moisture problem. the disclosures should really just be thought about as additional information in your arsenal as you decide whether to move forward with your purchase or not.
Now, are they important? the short answer is , of course! You want to have as much information about the home as possible before you make the purchase. They should never replace having a full home inspection, but you will still get some valuable information out of them. If you come across something that is troubling in the disclosures we can ask for some clarifications, or we can walk away from the property without risking your earnest money.
Every home will be unique and if you have questions about a specific home, we would love to help!