What is a Seller Disclosure Notice?
A Seller Disclosure Notice is an important document for both buyers and sellers in Texas. There are a few things you need to know as a seller about why it is important to do your best to complete the form to the best of your ability:
Answering honestly can protect your best interests. There may be things you do not know, and that is perfectly okay. Being honest is non-negotiable. If you hide a defect, you could be liable for damages.
The new Texas Seller Disclosure Notice is thorough regarding flooding. Post-Harvey, the state of Texas, refined this document to indicate whether a property is in 500 or 100-year floodplain. For properties previously flooded, a seller can indicate if it was from natural flooding or the release of a reservoir. This is important since many homes were flooded when reservoirs were released during Harvey.
If you are thinking of listing, please let me know, and I am happy to go over this document with you!