What is the purpose of a real estate disclosure?

The purpose of a real estate disclosure is to inform buyers of known issues and conditions of the property. This is crucial in the real estate transaction process, as it ensures transparency between the seller and the buyer. A seller is typically required to disclose any material defects or significant issues that could affect the property’s value or the buyer's decision to purchase. This can include information about the condition of the roof, plumbing problems, pest infestations, and neighborhood safety, among other things.

By providing this information upfront, the seller helps the buyer make an informed decision and can potentially avoid legal disputes in the future regarding undisclosed defects that may arise after the purchase. This practice fosters trust and accountability in real estate transactions, which is essential for a healthy market.