What is a real estate disclosure?

A real estate disclosure is fundamentally a legal document that outlines the known conditions and issues related to a property. This document is crucial in the transaction process as it represents the seller's obligation to inform potential buyers about any material defects, adverse conditions, or significant facts that could affect the decision to purchase the property.

Disclosures can include information about structural issues, past damages, environmental hazards, and more. This ensures transparency in the sale and helps protect both the buyer and seller by providing a clear record of the property's condition. By mandating full disclosure, the law aims to prevent future disputes and reduce potential litigation by making sure that buyers are aware of what they are purchasing.

The other options, while they might involve aspects of real estate, do not capture the formal and critical nature of a real estate disclosure. Informal communications do not carry the same legal weight and could lead to misunderstandings. A brochure is primarily a marketing tool and does not provide the necessary detailed information about the property's condition. Lastly, a summary of property taxes owed is not relevant to the actual condition or issues of the property itself, but rather serves a different purpose in informing potential buyers about financial obligations.