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Most Common Disclosures in Real Estate Natural Hazards Disclosure. First on the list is the natural hazards disclosure. Market Conditions Advisory (MCA) Market Conditions Advisory, also known as MCA, covers items more financial in nature. State Transfer Disclosure. Local Transfer Disclosure. Megans Law Disclosures.
Arizona Affidavit of Disclosure Information. Before a transfer of real property is finalized, Arizona law requires the seller to disclose material facts about the relevant property to the buyer in a sellers disclosure report.
What Do House Sellers Have to Disclose? The main point to bear in mind is that you need to be honest and disclose all known information about the property, both positive and negative. Secrecy and deceit are not permitted under any circumstances and may even lead to prosecution.
In Arizona, home sellers have to disclose to buyers the termite history of the property. However, this means that the seller has to know that they have termites.
Colorado courts have concluded that sellers are in a superior position to know the condition of a house and therefore have a duty to disclose defects in the house, which is typically accomplished through a sellers property disclosure form.
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Sellers should never discuss things like price, why they are selling, problems with the home, other offers, or closing with buyers. Anything said to a buyers agent should be considered said to the buyer and may be used during negotiations.
In the states where property sale prices are not available in the public records, the only way to get your hands on accurate sold comps is through the Multiple Listing Service (MLS). The MLS is a database that holds information on properties that are for sale and properties that have been sold within a state.
Property sellers are usually required to disclose negative information about a property. It is usually wise to always disclose issues with your home, whether you are legally bound to or not. The seller must follow local, state, and federal laws regarding disclosures when selling their home.
Missouri has only a few statutory sections that specifically require a home seller to make disclosures to potential buyers. For starters, Missouri Rev. Stat. 442.606 says that if the property is or was used as a site for methamphetamine production, the seller must disclose that in writing to the buyer.
In Arizona, home sellers have to disclose to buyers the termite history of the property. However, this means that the seller has to know that they have termites.

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