What is the purpose of the Sellers Disclosure Notice?

The Sellers Disclosure Notice serves a critical role in real estate transactions by ensuring transparency between sellers and potential buyers. Its primary purpose is to inform buyers about any known facts or defects associated with the property. This can include issues such as structural problems, plumbing or electrical concerns, and any history of pest infestations. By providing this information upfront, the seller helps buyers make informed decisions, which can lead to a smoother transaction process and reduce the likelihood of disputes arising after the sale.

The focus on disclosing known defects is crucial for fostering trust in the sale and allows buyers to assess the risks involved in purchasing the property. Furthermore, it can potentially mitigate legal issues that may arise if undisclosed defects are discovered later. Therefore, the Sellers Disclosure Notice is a vital tool for accountability in the real estate market, promoting ethical practices.