What Are Seller’s Disclosure Forms, and How Do They Work?

When you sell your home, you’ll be asked to fill out a seller’s disclosure form. But what is that all about? Today, I’ll explain.

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Though some people dread seeing the document, the seller’s disclosure form isn’t something to afraid of. It is, however, very important to fill out properly.

When you put your home on the market, your agent is going to ask you to fill out the disclosure form. It’s a way to disclose the things you know about your home so that the buyer can move forward with the transaction (or not) fully informed about your home.

The document will ask about things like the age of your roof, the appliances, the heating and air systems, and so on. It will also ask about whether all the systems and appliances are in working order. Further still, there will also be some odd-sounding questions, such as whether or not you have a nuclear waste facility in your backyard, and so on.

Seller disclosure forms are there to protect both you and the buyer, and they can serve as a great selling tool.

It’s important that you answer these questions as truthfully as you can, and your agent isn’t supposed to fill it out for you—they can give you advice, but as the homeowner, it’s your responsibility.

If you’re not sure about an item on the document but want to be sure you’re disclosing everything about your home, I suggest getting a home inspection done up front; while they aren’t perfect, a home inspector will document 99% of what’s going on with your home so you can be sure you’re fulfilling your disclosing duties. If there’s something serious that needs to be fixed, go ahead and fix it, and keep the paperwork so that you can show your buyer proof. Pre-inspections will also help the buyer feel more comfortable with your listing.
 
The bottom line with seller disclosure forms: They’re there to protect both you and the buyer, and they can serve as a great selling tool.

If you’d like more advice about this or other aspects of the real estate process, feel free to reach out to the Charlotte Mabry Team. We’ve got you covered.