Texas Real Estate Sales Agent ExamProperty DisclosuresMedium
A seller completes the Seller's Disclosure Notice and discloses that the property has a history of foundation repairs, which were completed by a licensed contractor five years ago. The buyer receives this notice. Which of the following best describes the seller's obligation regarding this disclosure?
- AThe seller is obligated to provide a warranty for the foundation repairs.
- BThe seller is required to disclose the names of all previous owners of the property.
- CThe seller must pay for a new foundation inspection for the buyer.
- DThe seller has fulfilled their disclosure obligation by stating the known repairs.
Show answer & explanationAnswer & explanation
Correct answer: D. The seller has fulfilled their disclosure obligation by stating the known repairs.
The Seller's Disclosure Notice requires sellers to disclose known material facts about the property, including past repairs. By stating that foundation repairs were completed five years ago, the seller has fulfilled their legal obligation to disclose this known condition.
Why the other options are wrong
- A. Sellers are generally not obligated to provide warranties for past repairs unless agreed upon in the contract.
- B. Disclosure of previous owners is not a standard requirement on the Seller's Disclosure Notice.
- C. Sellers are not legally required to pay for new inspections; this is typically a buyer's responsibility during due diligence.
Seller's Disclosure Notice (Past Repairs)
A mandatory form in Texas where a seller discloses known material facts about the property, including significant repairs or conditions, to a prospective buyer.
- Must be provided for residential properties.
- Includes disclosure of past structural or foundation repairs.
- Protects seller from liability for disclosed items.
Memory trick: Disclosure is about knowing, not guaranteeing.