How to Obtain Full Disclosure When Buying a House

For decades, laws in many states favored home sellers, leaving buyers with warnings of "buyer beware" that were backed up in the law books. However, things have changed, and homeowners are now compelled by law to provide full disclosure of known defects when selling a house. You can obtain full disclosure when buying a new home by knowing what to ask for and whom to ask.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Attorney
• Real estate agent
• Copy of the property lines
• Copy of the seller's home inspection report

1. Obtain a copy of the seller's home inspection report. You can ask the seller to provide this directly, or you can contact the sales agent's office to request one. While it may not necessarily be required by your state law for a seller to provide a home inspection report, someone who has nothing to hide should be more than happy to show you one.

2. Ask about any areas of the house or property which might be shared with adjacent properties. If you're buying one half of a duplex, you should know exactly where the line dividing up the driveway sits.

3. Find out exactly where the property lines are drawn. Property line delineations are always on file at your city hall if the seller doesn't have them on hand immediately upon request.

4. Inquire about any planned construction projects, either in neighboring houses or in the neighborhood itself. You might be wary if you find out that the guy next door is planning to build an addition on his house that will awaken you with hammering every morning. Similarly, if there's a motion in process with the city to rezone a nearby vacant field to build a shopping center, this will affect the property's future value. You have a right to know that information.

5. Send your own home inspector over to have a look if you have any doubts about the seller's claims. Only people who have something to hide are reticent about allowing a knowledgeable third party to voice an opinion.

6. Prepare a written, legally binding document that outlines the disclosures provided by the seller. Both parties should sign off on it and then file a copy with their respective attorneys.

Tips & Warnings

• Check with the chamber of commerce in your state to see if it has regulated requirements for full disclosure. Some states itemize exactly what documentation a seller most provide someone who is buying his home.
• Always ask to obtain full disclosure when buying a home. A shifty seller can overwhelm you with paperwork after the fact, claiming disclosure of known defects was provided. Take every document you're asked to sign to an attorney or your own real estate agent before signing it.