In any transaction, the parties should deal honestly and forthrightly with each other. Anything less is a species of fraud – either deliberately lying, or telling half truths when questions are asked. The rule of full disclosure is one that requires the seller of property to disclose fully all he/she knows about the property being sold.

The Seller of a property is required to fill out a property condition disclosure. Click here to view a Property Condition Disclosure.

The Seller must disclose everything they know about the property even if it may prevent the buyer from purchasing the property.

Ex. The basement of the property floods in the Spring. It is November and there are no signs of flooding the seller must still disclose that the basement floods in the spring.

Failure to fully disclose information can result in a lawsuit. The seller and only the seller fills out the Property Condition Disclosure. The seller should not be coached on how to fill out the disclosure. If the seller does not know the answer to a questions on the disclosure the seller much state as much.