THE SELLER’S DISCLOSURE FORM- ALMOST ALWAYS NECESSARY IN TX HOME SALES

By
Real Estate Agent with E*Rae Realty 651873
If you’re planning to sell your home in Texas, you almost always need to provide a seller’s disclosure form.  This form is provided to buyers informing them of any known defects to the property, previous repairs, and general property conditions.  There are a few exceptions for the mandate to provide a seller’s disclosure, and they are noted in the Texas Property Code.  These exceptions include:

  • a seller of residential property consisting of more than one dwelling unit
  • new construction homes or builder exemption
  • trustee in a bankruptcy case
  • executor of a will selling the property
  • relocation company (when the relocation company is NOT the seller
  • a sale to or from a government entity
  • sale from one co-owner to one or more other co-owners
  • sale made to a spouse or to a person or persons in the lineal line of consanguinity of one or more of the transfers
  • sales between spouses resulting from a decree of dissolution of marriage or a decree of legal separation or from a property settlement agreement to such a decree
  • sale of real property where the value of any dwelling does not exceed five (5%) percent of the value of the property


While a seller’s disclosure is not required in these cases, you may still want to provide a seller’s disclosure if you have knowledge of the property.  One of, if not the most, common reason for lawsuits in real estate is from failing to disclose known information about the property condition.  So, if you own a fourplex, and you previously were the landlord for the property.  You likely know about some aspects of the property’s condition.  I’d recommend completing a seller’s disclosure form even though you are not required to per the Texas Property Code.


The seller’s disclosure form I recommend my clients use is the Texas Association of REALTORS® Seller’s Disclosure Notice (TAR-1406).  This form is composed of eleven sections.  The first section simply lists which features a property has.
Picture
 
The second, third and fourth sections deal with known issues, defects or conditions at the property.  The fifth section addresses a range of property conditions including if the property is located in an HOA.  The sixth section deals with the survey, and the seventh section asks owners to list any inspections provided within the past four years.  If you have an inspection report from this time frame, you must provide it. Section eight pertains to tax exemptions, and section nine addresses insurance claims to the property.  Section 11 require’s seller’s to disclose knowledge in regards to the presence of smoke detectors on the property.

The last page of the seller’s disclosure notice should not be ignored.  It discusses additional notices to buyers and the utility providers for the property. Filling out the utility provider fields will make it much easier for the buyer to transfer utilities when the property is sold.
Picture
 
If you have questions about the Texas Seller’s Disclosure notice, or selling your home, contact me today.
This post originally appeared on shesellsaustin.com
Posted by
Erika Rae Albert 
Broker, Realtor®, GRI
 
 
108 Wild Basin Road South Suite 250
Austin, TX 78746
t: 512-779-7597
e: erika@shesellsaustin.com
 
www.shesellsaustin.com Facebook icon   LinkedIn icon   Twitter icon   Instagram icon
 

ERAEREALTYLOGO

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
Texas Travis County Austin
Tags:
sellers disclosure form
disclosure tx real estate
texas real estate forms

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,201,127
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good afternoon 

Thank you for sharing your information with us Erika Rae Albert, Austin Real Estate Expert 

Have a great day.

January 24, 2019.

Jan 24, 2019 01:55 PM #1
Rainer
195,802
Ted Glover
Alderman Classic Realty, LLC - Moultrie, GA
ABR in Moultrie, Georgia 229-854-5422

Hi Erika, disclose disclose disclose. That will keep you out of trouble ... most of the time. If the sellers have information about the past history about the home then share it. Most areas it is mandatory. But not in all cases. If no disclosures are being shared then have the sellers sign a form or another document stating so. Protect your self as well as you can. Ted

Jan 24, 2019 02:00 PM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
172,525

Erika Rae Albert, Austin Real Estate Expert

Exceeding Expectations in Every Transaction
Considering buying or selling in the Austin area?
*
*
*
*
Spam prevention