Selling a house can be difficult, however, our real estate disclosure template can help you list potential issues present in your home so you are not legally responsible if something were to go wrong.
What You Should Know Before Using Our Real Estate Disclosure Template
Previously, real estate was sold “as is.” However, real estate transactions usually pair with disclosures so buyers are fully aware of what they are purchasing. Another name for a real estate disclosure template is a home seller's disclosure form. No matter the name, this document is now paired with the real estate purchase contract. This means that the seller may well have to reveal all known physical defects, natural hazards, and legal liabilities.
1. 32 states require a real estate disclosure template:
Alaska, Arizona, California, Connecticut, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Michigan, Mississippi, Nebraska, Nevada, New Hampshire, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Virginia, Washington, and Wisconsin.
2. What defects must I disclose?
State law determines what you must tell potential buyers of your home. State laws vary so make sure that you know what must be done in your specific state. Typically, this list can include anything from a shortlist of loose guidelines to strict, specific rules. Despite the vast differences between states, most laws require that you only disclose problems that are within your personal knowledge. What you don't know, you don't have to disclose and cannot be held liable for. With such variance concerning state laws, you should ensure that you are putting in the correct information when filling out a real estate disclosure template. If you are unsure of these laws hiring an attorney to look over your document is a good idea.
Regardless of which state you are in, a lead paint disclosure form is a must if you are selling residential properties built before 1978 - check out our lead paint disclosure form and pamphlet.