6/18/12

Must A Seller Disclose Prior Water Penetration?


Inevitably, a seller will ask their Realtor what should be disclosed.  This can become a serious issue not only between a seller and a buyer but also with the Realtor.  Acording to the Texas Real Estate Commission (TREC), "if the prior water penetration has been cured and any ensuing damage from the prior water penetration has been cured, there is no longer a defect and the seller would not be obligated to disclose the prior water penetration."

What if the Realtor is aware of a defect that the seller has not or will not disclose?  According to the Texas Real Estate Commission (TREC), the Realtor must inform the seller that the Realtor is obligated to make the disclosure and that an attorney should be consulted.

Sellers, be sure to be honest when filling out your seller's disclosures - for the sake of everyone involved.