in Real estate
2006-07-18 07:25:24 · 4 answers · asked by Anonymous in Home & Garden ➔ Do It Yourself (DIY)
It means telling about things that happened to the house, or major repairs. These would include, floods, fires, wind damage, deaths, bug infestations, structural damage, etc. It varies by state and varies with respect to how far back you must disclose.
2006-07-18 07:29:11 · answer #1 · answered by eskie lover 7 · 0⤊ 0⤋
Disclosure means that you tell prospective purchasers anything that you know about the house, especially potentially adverse information, that could reasonably influence their decision to buy it. The list of possibilities is long, and includes such items as hidden leaks, faults in heating or other systems, and boundary line disputes.
2006-07-18 14:31:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If something is documented about a house...ie: water problems, foundation off footings or other sorts of issues and the house is sold without alerting the buyer to these potential hazards then you have what is called failure of disclosure.
2006-07-18 14:31:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you have to tell them if there is something wrong with the house like it had termintes or the air conditioner doesn't work or the roof leaks. Fair business practices. If the seller knows, it must be disclosed to the buyer.
2006-07-18 14:29:09 · answer #4 · answered by BonesofaTeacher 7 · 0⤊ 0⤋