Have you ever pondered why we need a Seller’s Disclosure Notice in a Texas real estate transaction?<\/p>\n\n\n\n
One of the most important reasons<\/strong> for the seller is that, in Texas, it is required by the law. Section 5.008 of the Texas Property Code requires “a seller of residential property comprising not more than one dwelling unit located in this state to give to the purchaser of the property” a written notice of the property’s condition.<\/p>\n\n\n\n Most of the reasons<\/strong> for a seller to provide a Seller’s Disclosure Notice to the buyer are legal but It\u2019s always appropriate for a seller to honestly describe to the buyer whatever they are selling before any funds change hands. When the seller provides a Seller’s Disclosure Notice, they are not only complying with the law but they are also improving their chances to avoid any future litigation after the sale. If the condition of the property is accurately disclosed by the seller, then it limits the buyer’s ability to initiate any future legal actions against the seller for items that were not disclosed on the Seller’s Disclosure Notice. The notice can be a significant risk-reduction tool.<\/p>\n\n\n\n From the buyer\u2019s perspective<\/strong>, it\u2019s an important document to review and consider. It should provide a description of any defects or malfunctions, unrepaired insurance claims, flood damage, etc. Texas REALTORS\u00ae provides a form entitled Seller’s Disclosure Notice (TXR 1406). The form is essentially a copy of the statutory minimum information required in Section 5.008 of the Texas Property Code but also has added provisions that provide more information for buyers and is designed to serve as a risk-reduction tool for sellers. The Texas REALTORS\u00ae form complies with Texas statutory requirements related to seller\u2019s disclosure and includes the following sections.<\/p>\n\n\n\n Whether you choose a resale home or a new construction home, buying a house is an exciting investment! Make sure you consider the options to make the best choice for you so that your new house becomes a great home. To help you consider all of the things that you should examine before buying a home, contact ROCK Properties Realty and we\u2019ll help you make sure that your home buying experience becomes a wonderful experience.<\/p>\n","protected":false},"excerpt":{"rendered":" Have you ever pondered why we need a Seller’s Disclosure Notice in a Texas real estate transaction? One of the most important reasons for the seller is that, in Texas, it is required by the law. Section 5.008 of the Texas Property Code requires “a seller of residential property comprising not more than one dwelling […]<\/p>\n","protected":false},"author":1,"featured_media":8536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[191],"tags":[],"class_list":["post-8532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":8}},"featured_image_src":"https:\/\/resourceful-teal-lizard.rotrealty.com\/rockproperties\/wp-content\/uploads\/2022\/08\/Sellers-Disclosure-Statement.jpg","author_info":{"display_name":"ROCK Properties","author_link":"https:\/\/resourceful-teal-lizard.rotrealty.com\/rockproperties\/author\/rock5861gmail-com\/"},"yoast_head":"\n
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