Who is typically responsible for disclosing property defects to potential buyers?

The seller, through mandatory disclosures, is typically responsible for disclosing property defects to potential buyers. This requirement is grounded in the principle of transparency in real estate transactions, ensuring that buyers have access to important information about the property they are interested in purchasing. Sellers are usually required by law to fill out a disclosure form detailing known issues or defects with the property, which may include problems like plumbing issues, electrical faults, structural concerns, or environmental hazards.

This process is designed to protect buyers from unforeseen expenses and safety hazards that could arise after purchase. By mandating that sellers disclose such information, the law aims to foster trust in real estate transactions, allowing buyers to make informed decisions and reducing the likelihood of disputes post-sale.

While agents play significant roles in facilitating the transaction and may assist in guiding their clients through the disclosure process, the actual responsibility for disclosing defects lies with the seller. The mortgage lender typically does not participate in the inspection or disclosure process, focusing primarily on the financial aspects of the transaction instead.