Real Estate Disclosure Agreement
Description Real Estate Contracts Blank
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Residential Disclosure Contracts FAQ
If you live in a non-disclosure state, it means that sale prices in a real estate transaction are not disclosed or recorded as public record. If you want to know a sale price of a home, you'd have to ask the seller directly or work with a real estate professional who has access to the Multiple Listing Service (MLS).
But, there are 12 states that are still considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. In a non-disclosure state, transaction sale prices are not available to the public.
Unlike some states, Kansas law does not require a standardized seller property disclosure form, although real estate agents often use a form designed to encompass standard disclosures. A potential buyer should always carefully review each item in any disclosure statement provided by a seller.
Texas is a non disclosure state meaning the sales price does not have to be disclosed to anyone. However, if you list a property on MLS, you must abide by the rules of the MLS ad must disclose. Disclosure has noting to do with government agencies only.
California's Especially Stringent Disclosure Requirements Sellers must fill out and give the buyers a disclosure form listing a broad range of defects, such as a leaky roof, deaths that occurred within three years on the property, neighborhood nuisances such as a dog that barks every night, and more.
If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.
"No Seller Disclosures" means that the seller is selling the property without disclosing any defects or facts that might be necessary for a buyer to make an informed decision.
Using that definition, 39 states and Washington D.C. allow public disclosure while the following 11 states are currently non-disclosure states: Alaska, Idaho, Kansas, Louisiana Mississippi, Montana, New Mexico, North Dakota, Texas, Utah and Wyoming (International Association of Assessing Officers, 2011; Berrens & Mckee