Understanding Property Disclosures

What Are Property Disclosures?

Property disclosures are legally required forms that sellers must complete and provide to buyers. They document the seller's knowledge of the property's condition, including any known defects, issues, or material facts that could affect the property's value or the buyer's decision to purchase.

The key phrase is "known defects." You are not required to discover and disclose issues you don't know about. However, you cannot deliberately hide defects you do know about — this is called "fraudulent concealment" and carries serious legal consequences.

What Must You Disclose?

Requirements vary by state, but common required disclosures across most states include:

How to Find Your State's Disclosure Form

Each state has its own official disclosure form. Search for:

Notable state-specific requirements:

• California — Most complex in the US. Requires Transfer Disclosure Statement (TDS), Natural Hazard Disclosure, and potentially 100+ additional disclosures.
• New York — Property Condition Disclosure Statement. NY is an attorney-closing state.
• Texas — Seller's Disclosure Notice covering all known defects.
• All states — Federal lead paint disclosure required for homes built before 1978.

Seller Responsibility Statement

Sellers are responsible for verifying property information and complying with all required real estate disclosures and regulations applicable in their jurisdiction. Buckeye Home Exchange does not review, verify, or approve disclosure forms. This is solely the seller's legal responsibility.