The Seller Disclosure Statement
Disclose, disclose, disclose
If you know about it, you must disclose it.
Every homeowner that puts their home on the market to sell must complete a "Seller Disclosure Statement". This is a 5 page form that tells any potential buyer everything that you, as the homeowner, know about the home during the time that you have lived there.
This can sound scary to a homeowner of a 1910 home that has had many issues throughout the time of ownership. Do not worry. Buyers understand that there is wear and tear on homes, and furthermore, anything can be fixed.
When filling out the Seller Disclosure Statement, be open and completely honest about every issue you have had. There are legal remedies for buyers that receive false or misleading statements from the seller. Also, if a buyer has agreed to purchase your home, they will have an inspection that may expose anything that you haven't disclosed thus making them wary about your truthfulness. They may wonder what else you haven't disclosed and will possibly terminate the purchase.
So the rule is, if you have a question about whether or not to disclose any issue with the home, the answer is yes. Disclose it.
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