It’s like location, location, location.  Disclosures are crucial to a property sale.  They tell the buyer about the house from the seller’s perspective.  Sellers are obligated to disclose whatever they know about the property, positive or negative. 

But you know that lock that sticks or that door that squeeks?  You’ve gotten used to it.  You don’t even notice it anymore.  The traffic noise?  It blends in after a few days.

Sellers are asked to remember everything about a home that they may have been living in for 30 years.  The disclosures are designed to jog a person’s memory, asking questions in a variety of ways.  It’s not uncommon to see multiple documents that say the same thing; ie, the mold disclosures.  A recent disclosure package that I emailed to a client was 150+ pages.  The number of disclosures increases regularly.  Every time there’s a lawsuit a new disclosure is added to the pile.

It’s rare, if ever, you’ll get the chance to actually speak with a seller regarding their statements.  It is not their obligation to warranty the information they’ve disclosed.  The way to inquire is in writing once you have an accepted offer; have your agent clarify anything you have questions about.

So what’s the point?  Read them.  Understand them.  Don’t solely rely on them.  Get inspections.

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