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What Info to Disclose to Buyer
When in doubt... disclose!
Sellers are required to disclose hidden problems that could adversely affect the value of the property.
Sellers are required to deliver their disclosures in writing. These disclosures are generated by California Association of REALTORS and they consist of many forms, some filled with questions about the house, property and even the neighborhood in which the house is located. Sellers are required to answer these questions honestly. If you don't know the answer to a question, there is usually a "don't know" box that you can check off on the form.
While it may seem awkward to disclose the defects in your house, it doesn't usually turn off buyers. In fact, just the opposite is true. Buyers like seller disclosures because it tells them about the problems with the house up front - they know what they're getting. Many sellers appreciate being able to be honest about the condition of their home. Because they've warned the buyer that the roof leaks, for example, they don't have to worry about an angry buyer after the closing.
The consequences of non-disclosure can be severe.
If a buyer can prove that you knew, or should have known, about a problem, he or she may be awarded damages in court.
It is far better to be honest and up front about any problems that might have to be corrected.