When discussing options with home sellers, one question that always comes up is- ‘What should I tell the buyers regarding the condition of the property?’ The question stems from a fear that if you were to tell the buyer everything you know about the condition of the house and the surrounding area, they may be turned off to buying it. The answer to the question of ‘what to disclose’ is ‘EVERYTHING’ you can think of to disclose.
Not only is there a legal responsibility to disclose all known facts about the property, but I have never seen disclosures turn off a buyer. It is much more likely that a seller will kill a deal by being dishonest than they will by leveling with the buyers about the property.
As an added benefit when I represent a seller in a transaction I always purchase a Home Warranty insurance plan for my seller and their buyer. This plan helps to protect the seller during the sale period and the buyer for a year after, by covering repairs to insured home systems in the event of a failure during that period. To see what is covered by a typical plan click here.