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In New Jersey, home sellers have a legal obligation to buyers to disclose information about their property's known defects. Failure to disclose can result in costly legal skirmishes that most homeowners would rather avoid.
Do You Need a Real Estate Attorney? Yes, you do! Kentucky is actually one of several states that require sellers to hire a real estate attorney. They will advise you with the paperwork and legal aspects of the transaction, which is reassuring and helpful to avoid a scam.
If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.
Although Georgia's statutes do not require sellers to fill out a disclosure form, Georgia courts have stated that home sellers must inform buyer about any latent or known material (important) defects in the condition of the home.
Georgia doesn't have any statutes or regulations that require landlords to disclose high concentrations of mold in rental properties to prospective tenants or buyers.
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By contrast, Massachusetts does not require sellers to provide a disclosure form or statement to potential buyers. If you work with a real estate broker or agent, he or she may ask you to complete a statement that will include a provision that indemnifies the broker or agent for any misstatements or errors on the form.
But, there are 12 states that are still considered \u201cnon-disclosure:\u201d Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. In a non-disclosure state, transaction sale prices are not available to the public.
Under Florida law, home sellers are required to disclose any problems that they actually know about, even if the buyer later thinks they should have known about the problem. (This comes from the court case of Jensen v. Bailey, 76 So.
Colorado state statutes require that sellers of residential property disclose the following to buyers: That the property might be in a special taxing district, and where the buyer can go to find out whether the property is, in fact, within such a district.
Indiana law (IC 32-21-5) generally requires sellers of 1-4 unit residential property to complete this form regarding the known physical condition of the property. An owner must complete and sign the disclosure form and submit the form to a prospective buyer before an offer is accepted for the sale of the real estate.

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