Dear Seller,
Disclose!!!
Did the basement leak? And you know it? Disclose!!!
Is the fireplace missing a flue damper? Is the chimney missing a cap? And you know it? And you got a bid to fix it? Last year? And you're not disclosing it now? Disclose!!!
Is there termite damage? And you know it? And you're not disclosing it? Disclose!!!
The seller disclosure is there for a reason. Read the preamble to the seller disclosure form. You are obligated to disclose. Don't try to outsmart the system. It will backfire.
The buyer's home inspector will find these defects and you'll lose everyone's trust. You'll end up fixing or lowering the price. The buyer may terminate the agreement and then you'll have to disclose everything to the next buyers, including whatever the home inspection report uncovered. If the inspection report was shared with you, and there were defects you didn't even know about, you'll have to disclose those, too. Like it or not, you will have to disclose.
If the house closed and the buyer found out later that you purposely omitted information about defects you knew about, then most likely you're looking at some legal problems you didn't expect to have. You may end up with legal expenses and repair expenses that you'll have to pay with money you may not have.
Just disclose. Like it or not, you have to. You're selling real estate, not "buyer beware" junk on craigslist. There are rules in real estate. Follow the rules. Your Realtor knows the rules. Ask your Realtor. Do the right thing.
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