What is a Disclosure Form?

The Seller’s Disclosure Form is a legal document in a real estate transaction that gives the buyer the details of the property. This form should not be taken lightly as it is a legally binding document. The listing client has the responsibility of ensuring the Seller’s Disclosure Statement is properly filled out and is ultimately responsible for any known defects or malfunctions on the property that were not disclosed on the form.

The Seller’s Disclosure Notice was promulgated by the Texas Real Estate Commission for the use in residential real estate contracts. The One to Four Family Residential Contract has the Seller’s Disclosure Form attached to it after it has been filled out and is then given to the party of the buyer. It is expected to be completed in full by the seller and is required to make notice of any malfunctions on the property concerning any of the appliances, features, equipment, and more. It also is for the use of disclosing all known malfunctions that have taken place on the property, such as a leak in the roof, both in the present and in the past. It is important that the client knows that no matter the date, if there was or is an event or situation on the property that must be disclosed, it must be done so on the Seller’s Disclosure Form.