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What Must You Tell Buyers? Tennessee is what is known as a full disclosure state, meaning that the seller of residential property must disclose all known material defects to the buyer before or at the time an offer is made.

The Act applies to all sales of residential real property consisting of not less than one dwelling unit, but not more than four dwelling units. The Act applies even if real estate agents are not involved in the sale. The disclosure form required in Tennessee is lengthy, detailed and comprehensive.

The disclosure statement should include the property address and the age of the home. Disclosure requires a list of amenities included with the sale and their condition. Sellers must report any known defects or malfunctions of structural or mechanical components.

Any ongoing problems with neighbours, including boundary disputes. Any neighbours known to have been served an Anti Social Behaviour Order (ASBO) Whether there have been any known burglaries in the neighbourhood recently. Whether any murders or suicides have occurred in the property recently.

Most Common Disclosures in Real Estate Natural Hazards Disclosure. First on the list is the natural hazards disclosure. ... Market Conditions Advisory (MCA) Market Conditions Advisory, also known as MCA, covers items more financial in nature. ... State Transfer Disclosure. ... Local Transfer Disclosure. ... Megan's Law Disclosures.

Tennessee is what is known as a full disclosure state, meaning that the seller of residential property must disclose all known material defects to the buyer before or at the time an offer is made.

Common exceptions include sales or transfers between co-owners, new construction, purchases from lenders after foreclosure, auction sales, or if the Seller has not lived in the home within the 3 years before the Closing.