Seller's Disclosure

Definition

A legal document where the seller reveals known defects, problems, and condition issues to potential buyers. It's the permission slip to blame future problems on honesty instead of your own naivety.

Example Usage

The seller's disclosure mentioned 'occasional basement dampness,' which turned out to mean 'flooded basement every spring.'

Origin

From 'seller' and 'disclosure' meaning 'revelation of information.'

Fun Fact

Most states legally require seller's disclosures, with severe penalties for material omissions.

Source: State real estate disclosure laws and NAR standards

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