Seller's Property Disclosure Statement
When selling your home always disclosure as much information to the buyers upfront. Disclosures are important and it is recommended to have a home inspection done before placing your home on the market. An inspection can prepare you for Buyer's responses on the Buyer's Inspection form. Being more knowledgeable than the buyer and providing any and all issues related to inspections help mitigate any future negotiation leverage by the buyer and will minimize or eliminate any legal action that can come from not disclosing. Of course latent defects or defects that are unknown or not detected by an inspection play a part in alleviating a seller from liability but not completely. Latent defects are subjective in nature. Some examples can be slow draining of pipes that are not inspected, leaks in walls, improper structure or hidden code violations.
A good buying agent will always go over and above their duty to make sure a buyer is well represented and recommend all inspections based on home age, location, modifications etc. A good listing agent can identify areas of concern ahead of time and provide the proper disclosure documentation.
For disclosure purposes always consider inspections such as general inspection, plumbing snake & camera inspection, mold in walls (around damp areas that may have been modified or show discoloration), crawl space or attic structural inspection (mainly if modifications were done), roof inspection, termite, electrical, septic, pool, and gas line. These are some of the important areas that can cause issues if unknown to the seller or buyer.
For disclosures please review the Residential Seller Disclosure Advisory Sample Forms