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Transparency in Real Estate: How Much Should Sellers Disclose?
Selling a property is a sensitive matter, and naturally, sellers may hesitate to disclose hidden defects for fear of jeopardizing the sale. However, if undisclosed issues are discovered after the transaction is complete—especially if the seller was aware of them—it could lead to potential legal action.
This raises an important question: How much should a seller disclose?
When in Doubt, Be Transparent
The best approach is honesty and transparency. It is crucial to disclose any material defects that could impact the buyer’s decision, such as:
- The physical condition of the property
- Potential safety hazards
- Outstanding liens or encumbrances on the property
Even if certain flaws seem minor to the seller, they should still be acknowledged. Concealing known defects may lead to future lawsuits. On the other hand, being upfront and honest builds trust and confidence with buyers, ultimately enhancing credibility. Additionally, it is beneficial to inform buyers about any recent repairs, upgrades, or improvements made to the property, as this can increase its perceived value.
Independent Property Inspections
If the seller hires a professional inspection company, they will receive a comprehensive property assessment with documented findings. This ensures full transparency and protects both parties from future disputes.
Honest Non-Disclosure
There are situations where sellers may genuinely be unaware of defects in their home. For example, if termites are present but the seller has never noticed them, this lack of knowledge is legitimate and falls under good-faith non-disclosure.
When Uncertain, Don’t Guess
If a buyer asks about a specific issue and the seller is unsure of the answer, it is always better to admit uncertainty rather than provide inaccurate or misleading information.
Ultimately, losing a buyer due to honest disclosure is far better than risking a lawsuit due to undisclosed issues.
Anat Harran Luxury Real Estate Consultants & Brokerage
📞 052-6595535
Luxury Homes in Savyon: Sales / Rentals / Land
