Understanding the Seller's Disclosure Notice in Texas – A Comprehensive Guide for Informed Sellers

Navigating the Seller's Disclosure Notice: A Guide for Informed Sellers

Selling a property in Texas comes with a set of responsibilities, one of which is completing the Seller's Disclosure Notice. While many sellers are familiar with the basics, there are nuances that may not be common knowledge. Knowing this information can save you thousands of dollars simply by things omitted that you were not aware of as being important. Here are essential points to empower sellers in fulfilling this crucial obligation:

Understanding Discretion:

A seller may, but is not obligated to, disclose a suicide that occurred on the property.

Similarly, the seller is not required to disclose the presence of sex offenders in the area.

Legal Matters Matter:

Disclose any lawsuits with the potential to affect the property, such as divorce, foreclosure, bankruptcy, or other legal proceedings.

Occupancy Not a Factor:

Even if the seller does not occupy the property, completing a Seller’s Disclosure Notice is mandatory.

Relocation Companies' Responsibility:

If a relocation company holds title to the property, they must complete a Seller’s Disclosure Notice.

Duplex Distinction:

While sellers of duplexes are exempt from providing the notice, they must disclose any material defects they are aware of.

Knowledge Trumps Inspection:

A seller, even one who has never seen or lived in the property, is obligated to disclose what they know about the property, obtained from sources other than visual inspection.

Timely Disclosure is Key:

A seller must provide the Seller’s Disclosure Notice to the buyer on or before the effective date of the contract. Failure to do so allows the buyer to terminate the contract within the allotted number of days written in the contract after receiving the notice.

Buyer's Choice:

A buyer is not legally obligated to sign the form.

Important Notes for Sellers:

While the law does not mandate disclosure of suicide or the presence of sex offenders, voluntary disclosure is advisable as buyers may obtain such information elsewhere.
A seller, even if not residing in the property, must provide the best of their knowledge in completing the form.

Navigating the Process: Sellers, being well-informed about these intricacies, can confidently approach the Seller's Disclosure Notice. However, it's crucial to note that, by law, no realtor can assist in filling out the form. This ensures a transparent and unbiased disclosure process.

Professional Guidance and Disclaimer: For professional assistance and to clarify any queries regarding the Seller's Disclosure Notice, sellers are encouraged to seek advice from a qualified real estate professional. It's important to understand that while realtors can provide valuable information and answer questions, they are not permitted by law to complete the form on behalf of the seller.

Selling your property is a significant undertaking, and being well-versed in the intricacies of the Seller's Disclosure Notice adds a layer of transparency to the process. Empower yourself with knowledge and consult with a real estate professional for a seamless and compliant disclosure experience.

I absolutely adore connecting with my clients! ❤️ If you have any questions about real estate, please feel free to reach out to me. I am available by phone, texting, and Zoom, at your convenience. If you would like to read more Real Estate Articles for Buyers & Sellers go here:

https://www.amandaallenhomes.com/my-blog